Is Snap Stock a Bad-News Buy?
Shares of Snap (NYSE: SNAP) tanked last week after the company's earnings report, which wasn't great. While Meta Platforms did well with ad revenue showing strength, that wasn't the case for Snap, which saw sales down on a year-over-year basis.
But Snap is undergoing some changes and there was good growth in its user base. Could the tech stock be a buy on this latest weakness and be a good contrarian investment?
Snap's revenue declined by 7% for the first three months of 2023, falling to $988.6 million. However, at a time when the ad market isn't strong and advertisers are cutting back on spending, this may not come as a big surprise.
Source Fool.com
Snap Inc Stock
€14.92
2.650%
Our community is currently high on Snap Inc with 11 Buy predictions and 5 Sell predictions.
However, we have a potential of -6.17% for Snap Inc as the target price of 14 € is below the current price of 14.92 €.
