Snap: 11+ Million Reasons To Like
Update - Sept. 19 Snap making a run after a solid Partner Event with a focus on AI and A/R glasses. The stock could quickly close the gap to $13. Originally posted on Sept. 8 Snap has fallen to multi-year lows despite strong sales growth and a promising subscription service, making it an undervalued investment below $9. The social messaging company reported 850 million MAUs and 432 million DAUs, with Snapchat+ boosting subscriptions to 11 million. The market is overly focused on volatile advertising revenue, ignoring Snap's potential $700 million in recurring subscription fees by the end of 2024. SNAP stock trades at only 3x forward EV/S targets, significantly lower than peers like Meta and Pinterest, highlighting a substantial market disconnect. In an odd move, Snap, Inc. ( NYSE: SNAP ) has fallen back to multi-year lows despite reporting strong sales growth in the last quarter. The social messaging company clearly isn't firing on all cylinders, but the market has complete