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Snap: Is the Nightmare Finally Ending?Snap has struggled since growth stocks started crumbling two years ago, but now some traders may see chances of a recovery. The first pattern on today’s chart is the potential basing pattern that began in August. Its bottom was slightly above the May trough. That could suggest that selling pressure is waning in the social-media stock. Second are the pair of high-volume candles on October 16 and 25. The first came after The Verge reported that SNAP was setting ambitious internal targets for monetization and engagement. The second followed better-than-expected quarterly results. At that time, investors were nervous about global tensions hurting growth. But if those worries fade, traders could target the third pattern: a large bearish gap that followed weak quarterly results in July. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:SNAP
by TradeStation
Snap Stock Surges More Than 11% After Earnings BeatSnap (SNAP) reported its third quarter earnings Tuesday after the bell, beating estimates of the top and bottom lines and suggesting that more growth for the social messaging company may be on the horizon. These earnings beats were a much-needed win. Snap, owner of Snapchat, has become representative of the malaise that can affect an advertising-dependent tech company. The business has struggled since the launch of Apple's (AAPL) App Transparency Tracking, and was sent reeling by a digital advertising slowdown that's only just picking up again. Many of Snap's plans for its future — for example, its repeated efforts to make mainstream AR glasses — have yet to fully take. The company this year released its own AI chatbot, My AI, but its rollout has reportedly raised fears among parents concerned for their children's safety. In its earnings release, Snap revealed that over 200 million people have used My AI, sending more than 20 billion messages. It has also signed up 5 million people for its premium subscription Snapchat+, adding a potential annual income of more than $200 million. “We are focused on improving our advertising platform to drive higher return on investment for our advertising partners, and we have evolved our go-to-market efforts to better serve our partners and drive customer success," Snap CEO Evan Spiegel said in a statement. Additionally, Snap offered up a relatively optimistic internal forecast, saying that it sees its Q4 adjusted EBITDA coming in between $65 million and $105 million, a wide range but on the high end from Wall Street's estimates of $100.6 million. Notably, this was not formal guidance; Snap is opting to disclose internal guidance, which should be viewed with some caution. The Earnings Rundown Here are the key numbers that Snap reported, compared to Wall Street's expectations as compiled by Bloomberg: Adjusted Earnings Per Share: $0.02 actual versus -$0.04 expected Revenue: $1.19 billion actual versus $1.11 billion expected Global Daily Active Users (DAUs): 406 million actual versus 405.79 million expected Snap's daily active user numbers are particularly notable — they mark growth of 12% year over year. Snap COO Jerry Hunter is set to retire, the company revealed in its report. Snap also authorized a share buyback program up to $500 million, implying that management thinks the company's stock is undervalued. Snap shares came into this earnings cycle up about 9% year to date, lagging the Nasdaq Internet Index, which is up about 34% in 2023. Its revenue had declined in the last two quarters before the latest reversal. Despite the upswing in Snap's revenue and signals that the advertising market is recovering, the company's investor letter acknowledged that the third quarter was tough. Looking ahead, there are also fears of another advertising downturn due to the war in Israel.
NYSE:SNAPLong
by DEXWireNews
2
SNAP - RECOVERY SCENARIOSnap's stock has been highly volatile, with over 42 moves exceeding 5% in the past year. Today's increase in share price suggests the market finds the news impactful but not transformative for the company. The most significant drop occurred six months ago when Snap reported disappointing first-quarter revenue, causing a 19.8% stock decline. SNAP faces company-specific challenges, as its peers in advertising and social media generally report stronger results. Snap's stock has risen by 9.66% this year but is still 28.2% below its 52-week high of $13.51 in July 2023. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
NYSE:SNAPLong
by legacyFXofficial
SNAP: EASY 17.89 BEFORE NEXT EARNINGDespite the market consolidation, I agree that the SNAP sell-off was an overreaction. Big hands are attempting to shake off the Snap investors in order to move higher. Currently, large volumes are being bought as much as they can at below resistance, which is around 11.22, but if it breaks, we should expect 12.19 in no time. This is the time to start collecting shares, not wait. Big whales will force you to purchase you at a expensive price. I am bullish in Snap. GOING UP AFTER 08/07/2023
NYSE:SNAPLong
by sej4974
SNAP: Good move up very soonOn the chart, we see a wide consolidation channel, in which there is a set of positions and a new growth cycle for this instrument will soon begin. The first target is around $21.7, there is an unclosed gap. Look at the RSI, it is also approaching 30, which indicates that the instrument is oversold. The fair price today is ~ $36, if we apply the discounted cash flow system, so you can already form your positions in the long term. Good luck to all. If you liked it - subscribe!
NYSE:SNAPLong
by Your_Trend
2
Is the SNAP Sell Off overreaction a Reversal Setup?Yes, I think that it is. On the 15-minute chart, the price action of the post-earnings drop is seen The earnings beat the analysts. Price has started a low momentum recovery. The dual time frame RSI shows the low/blue line RS rising above the high/black line. SNAP is in the deep oversold and undervalued territory in the area of the lowermost intermediate-term anchored VWAP lines. The mass index indicator triggered a reversal in the pre-market hours today. I will take a cautious long trade here expecting a price appreciation to 11.8 at or below the mean black VWAP.or about 10%.
NYSE:SNAPLong
by AwesomeAvani
1
It's time to manage SNAP after its earningFrom Investopedia, a channel occurs when the price of an asset is moving between two parallel trendlines. The upper trendline connects the swing highs in price, while the lower trendline connects the swing lows. SNAP is in an ascending channel. When the price hits the top of the channel, sell your existing long position and/or take a short position. When the price is in the middle of the channel, do nothing if you have no trades, or hold your current trades. When the price hits the bottom of the channel, cover your existing short position and/or take a long position. During a rising channel, focus on buying near the bottom of the channel and exiting near the top. Be wary of shorting since the trend is up.
NYSE:SNAP
by KhanhC.Hoang
$SNAP A Mixed BagAlthough it is up 43% YTD, Snap, Inc (NYSE: SNAP) is witnessing some concerning signs due to the slowdown in active users growth as well as the decline in average revenue per user. Based on these factors it is highly likely that the company misses on its revenue estimates in its Q2 earnings set to be released on July 25 after hours. Despite this, the company has been adding subscribers to its Snap+ service and could be on track for an EPS beat in its Q2 earnings. In light of this, SNAP stock could be one to watch closely ahead of its earnings. SNAP Fundamentals Decelerating Growth SNAP’s position as a social media company means that user growth is its most important metric, since no matter how good the product, is no one is going to use a platform that no one else uses. This makes the decelerating user growth the company is seeing a major concern as its daily active users’ growth has been decelerating for 2 straight quarters now. The decelerating growth can be attributed to the stagnation the North American market is seeing. SNAP has maintained 100 million DAU in North America for three quarters straight. What makes this worse for SNAP is that North America has the highest average revenue per user (ARPU) amongst all regions, and countries outside of North America and Europe which are seeing the highest growth in DAU have the lowest ARPU. Another thing to take into consideration is while North America has by far the highest ARPU compared to other regions, North America is currently seeing the lowest ARPU since Q2 2021. While it is concerning, it also means that SNAP still has room to improve its revenues if it can return to the previous levels of ARPU in North America. Snap+ and My AI While SNAP has suffered from slower growth in almost every area of its business, its subscription service Snap+ has grown more than 33% QoQ from 3 million subscribers to 4 million subscribers. With the subscription costing $3.99, that means that SNAP will realize around $48 million in quarterly revenue and $192 million annually from Snap+ alone. Furthermore, Evan Spiegel, SNAP’s CEO, said that more than 150 million users have used the new chatbot My AI since it was released to all of its users. While My AI can’t compete with other Large Language Models (LLMs) like Microsoft’s (NASDAQ: MSFT) ChatGPT, it can be another way that SNAP can increase its ad revenue since it can use sponsored links that are relevant to the conversation which it has already tested in May. Q2 Forecast Using SNAP’s DAU numbers for the last 6 quarters, its estimates for North America, Europe, and RoW are around 101.2 million, 95.6 million, and 202.89 million respectively. According to the linear regression trendlines in the chart below, total DAUs can be forecasted to be around 399 million users. That would mean that SNAP’s revenues would reach $1.01 billion assuming the ARPU it recorded in Q1 2023 stays roughly the same. Adding revenue from the new one million subscribers to SNAP+ would make SNAP’s total Q2 revenues around $1.022 billion which is less than analyst estimates of $1.054 billion. Furthermore, SNAP’s cost of revenue and operating expenses are expected to remain relatively flat according to management at around $440 million and $910 million, respectively. This means that SNAP would record a net loss of $328 million and an EPS of -$0.205, which is better than analysts’ estimates of -$0.247. For this reason, SNAP stock could be set to run on an EPS beat – especially with the stock trading near the lower trendline of its upward channel. SNAP Financials In its Q1 2023 report, SNAP’s total assets decreased 1.25% QoQ from $8 billion to $7.9 billion due to a decline in its accounts receivable. While its cash and cash equivalents increased 13% QoQ from $1.4 billion to $1.58 billion due to $100 million of free cash flow being generated in Q1 2023. SNAP’s total liabilities decreased by 2% QoQ from $5.4 billion to $5.3 billion. Revenue also decreased 7% YoY from $1.06 billion to $0.988 billion due to the decline in ARPU. Operating costs stayed roughly the same compared to last year at around $914 million. While operating loss decreased 8.5% YoY from $351 million to $321 million due to an increase in interest income from investments in government securities. This all amounted to a net loss of $328 million – a 9% decrease YoY. Technical Analysis SNAP stock’s trend is bullish with the stock trading in an upwards channel. Looking at the indicators, the stock is trading below the 50, and 21 MAs which is a bearish indication, and above the 200 MA which is a bullish indication. Meanwhile, the RSI is neutral at 40 and the MACD is approaching a bullish crossover. As for the fundamentals, the upcoming Q2 2023 earnings will be a catalyst for SNAP stock. If SNAP beats its EPS estimates it can cause its stock to maintain its momentum and run which makes the current PPS an attractive entry point ahead of earnings as the stock is currently testing the lower trendline. SNAP Forecast While SNAP is working on increasing its ad revenue using its My AI chatbot and its Snap+ subscription, it is currently seeing stagnation in its active users’ growth in North America – its biggest market revenue-wise. That said, there is a strong possibility SNAP stock runs post earnings as it may beat EPS estimates based on our calculations. With the stock trading at the lower trendline, bullish investors could find a good entry into SNAP stock at current levels in anticipation of its Q2 earnings on July 25 after hours.
NYSE:SNAP
by Penny_Stocks_Today
Snap May Be Vulnerable as Earnings ApproachSnap has moved sideways for a year, but some traders may expect its prior downtrend to resume. The first pattern on today’s chart is the series of bearish gaps following the last four quarterly reports. The social-media stock held its ground after those drops -- probably because it had already lost about 80 percent of its value in the preceding nine months. But now it’s had an entire year to consolidate. Next, SNAP rallied about 75 percent between early May and mid-July along with the Nasdaq-100. Does that create space to the downside? Third, Wilder’s Relative Strength Index (RSI) just hit its most overbought level since October 2020. That may represent a peak. Recent sessions could also be viewed as a top, with a shooting star on July 13 and then solid candles as intraday highs got sold. SNAP ended that phase by closing below its 8-day exponential moving average (EMA). All these points may be important with earnings tomorrow afternoon. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:SNAP
by TradeStation