Given that Snap’s user base is growing rapidly and that analysts, on average, expect it to generate earnings per share of 17 cents next year, that’s an attractive valuation.įor long-term investors looking to capitalize on overdone fears about a recession, SNAP stock is a very good name to buy on weakness. SNAP is changing hands for 2.85 times analysts’ average 2024 revenue estimate. The Valuation of SNAP Stock Is Attractive But after Meta Platforms (NASDAQ: META) was able to largely overcome that issue, I’m sure that Snap will be able to follow suit in the medium term. Moreover, Truist reported that Snap, as of last quarter, was still having trouble dealing with the ramifications of the changes that Apple (NASDAQ: AAPL) made to its privacy rules.
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And finally, the company has launched a new, free AI chatbot, and it plans to soon start selling ads that will be seen by those who utilize the chatbot.Īll of those initiatives, taken together, should positively move the needle for Snap’s financial results and SNAP stock. Additionally, the company is allowing marketers to ensure that their ads will be “the first video ad between Friend Stories” viewed by users. Snap is starting to give marketers the chance to buy ads that it shows in conjunction with its popular short videos. As a result, large companies are likely to raise their ad budgets in the not-too-distant future. Therefore, recession fears are likely to soon greatly ease. Further, the central bank was estimating that “real personal consumption expenditures growth” would come in at a strong 1.8%. bank deposits, which many bears warned would be huge, have turned out to be minimal.Īnd a recession does not appear to be at all imminent, as the economy grew 1.1% last quarter and, as of May 17, the Fed was predicting that it would expand a robust 2.6% in the current quarter. Indeed, many large marketers likely lowered their ad spending last quarter amid the regional crisis and recession fears.īut in recent days, we learned that many large investors bought bank stocks in the first quarter. Responding to Snap’s first-quarter results, Truist wrote that Snap had been hurt by its relatively high dependency on large advertisers. Ad Spending by Large Companies Will Rebound Snap’s huge user growth bodes well for its ability to grow its ad revenue over the medium and long term. Over the longer term, marketers decide where to spend their ad dollars based on the number of users that platforms attract.įor example, as podcasts have attracted more listeners, the amount of money spent by advertisers on the medium has surged. You can trust Agent Signs to deliver your best sign solution.In the first quarter, Snap’s daily active user growth jumped a very impressive 15% year over year to 383 million. With over 35 years making signs, you can find our signs in literally every business area of Ottawa.
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