Could Snap Become the Next Meta Platforms?
's (NYSE: SNAP) stock hit an all-time high of $83.11 on Sept. 24, 2021. That gave the social media company a market cap of $131 billion and represented a 389% gain from its initial public offering (IPO) price of $17 in 2017. At the time, Snap's Snapchat seemed to be mounting a strong comeback against Meta Platforms' (NASDAQ: META) Facebook and Instagram. It also silenced the bears who argued that Snap should have just accepted Facebook's $3 billion buyout offer in 2013.
But today, Snap's stock trades at about $11 with a market cap of $18 billion. It tumbled below its IPO price as the growth in daily active users (DAUs) slowed down, its average revenue per user (ARPU) declined, and the company remained deeply unprofitable.
Image source: Getty Images.
Source Fool.com
Snap Inc Stock
Our community is currently high on Snap Inc with 16 Buy predictions and 4 Sell predictions.
Based on the current price of 4.08 € the target price of 9 € shows a potential of 120.86% for Snap Inc which would more than double the current price.
