SNAP Stock Forecast: Stock Soars 15% in last 5 days. Is it a road to recovery?

SNAP Stock Forecast for the next 12 months is revised to $13.3

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SNAP Stock Forecast: Performance Chart

Snap Stock forecast: Latest News

• Snap plans to grow its revenue and user base: In a leaked internal memo, Snapchat’s CEO Evan Spiegel explained that the company is planning to grow its user base by 30% to 450 million by the end of next year, and its revenue to $6 billion in 2023.
• Netflix hired 2 top executives from Snapchat: Netflix hired two top executives, Snap’s chief business officer, Jeremi Gorman, and Snap’s vice president of ad sales, Peter Naylor from Snapchat. It can be detrimental to the stock.

Snap Stock Forecast: Why is the stock price rising?

Snap has soared to 14.8% in the past 5 days. Reasons for the same are listed below.

• Meta announced that they are expanding the metaverse’s data center. The management consultant – Mckinsey asserted in a report that consumer and business streams are to generate $4-$5 Billion in 2030. The above news has positively impacted the future perspective of Snapchat and its stock price.
• Developing the AR technology– Snap is all set to develop Augmented reality which could be a game changer for consumers. It could help switch the platform from mobiles to wearables. Snap has already launched AR glasses last year which were only sold to Developers.
• Partnership with Amazon for AR – Snap’s partnership with Amazon shall bring Snapchat’s augmented reality into actual reality. Amazon Customers shall soon try out glasses on Snapchat featuring thousands of eyewear products from brands including Costa Del Mar, Maui Jim, Oakley, Persol, Ralph Lauren, and Ray-Ban.
• Job cut and strategic restructuring – Broadly, the Tech sector is facing macro-economic issues. Along with various companies, Snapchat is also laying off and planning to prudently hire staff essentially required for its long-term future goals.

Snap Stock Price Prediction for the next 12 months

Average SNAP Stock Forecast for the next 12 Months	$11.2
Goldman Sachs	$10
Barclays	$18
Bank of America	$11
Morgan Stanley	$7
UBS Group	$10

Snap Stock forecast: Q3 Results

• The revenue of the company increased from $1.1B (Q2) to 1.3 billion (Q3). This happened with a YoY of +5.71% (Q3) as compared to +13.11% YoY (Q2).
• EPS for Q3 stands at -0.22 as compared to -0.26 (Q2), with a YoY growth rate of -391.21% (Q3) as compared to -163.88% (Q2).
• Cashflow from operating activities is $68.06M with a YoY growth rate of -20.36%.
• Cashflow from investing activities is $65.06M(Q3) (YoY at 141.92%) as compared to 11.44M (Q2) (YoY -91.33%).
• Cashflow from financing activities is -$512.14M(Q3) (YoY at 5093.72%) as compared to -18.12 (Q2)
• Daily Active Users were 363 million in Q3 2022, an increase of 57 million, or 19% YoY.

Also Read: PLRX Stock Forecast 2022

SNAP Stock Forecast: Latest Video

SNAP Stock Forecast Today

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.