CA - Snap: 7 Million Reasons To Buy The Dip
2024-03-27 13:01:06 ET
Summary
- Snap Inc.'s Q1 '24 guidance for DAUs and revenue fell slightly below consensus, but disappointed investors missed the progress on returning towards 15% growth.
- Snapchat+ is growing towards the 14 million target for the end of 2024 with an updated number for the end of Q1 providing a catalyst.
- The stock only trades at 4x EV/S targets, a discount to social media peers.
Snap Inc. ( SNAP ) remains the most volatile player in the social media space. The Snapchat operator soared on exiting subscription news and a bounce back in sector stocks, yet Snap plunged back when reporting Q4 '23 numbers that missed the high-end expectations. My investment thesis remains ultra Bullish on the stock, which is down ~$6 from the yearly highs while subscriber growth continues to bolster a more positive long-term view....
Snap: 7 Million Reasons To Buy The Dip