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
€4.78
2.590%
Currently there is a rather positive sentiment for Snap Inc with 15 Buy predictions and 5 Sell predictions.
With a target price of 8 € there is a hugely positive potential of 67.36% for Snap Inc compared to the current price of 4.78 €.
