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Snap Inc.
SNAP Details
Snap Inc. (NYSE: SNAP) operates as a camera company whose primary product is Snapchat, a camera application that allows users to interact via short videos and photographs, known as Snaps. Snapchat consists of five different tabs (Camera, Communication, Snap Map, Stories and Spotlight) and additional tools that function outside of the app. As of November 23, 2021, the company's market capitalization stood at USD 79.30 billion.
Latest News:
Q3FY21 Results:
Key Risks:
Outlook:
Valuation Methodology: Price/Earnings Per Share Multiple Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's NTM trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
SNAP Daily Technical Chart (Source: REFINITIV)
Stock Recommendation:
SNAP's share price has declined 32.11% in the past three months and is currently leaning towards the lower-band of the 52-week range of USD 43.26 to USD 83.34. The stock is currently trading below its 50 and 200 DMA levels, and its RSI Index is at 34.60. We have valued the stock using the Price/Earnings-based relative valuation methodology and arrived at a target price of USD 60.37.
Considering the correction in the stock price in the past three months, strong top-line performance, current valuation, and associated risks, we recommend a "Buy" rating on the stock at the closing price of USD 50.67, up 2.86%, as of November 23, 2021.
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.
*Depending upon the risk tolerance, investors may consider unwinding their positions in a respective stock once the estimated target price is reached.