Snap shares got a rating upgrade from MoffettNathanson analysts.
The analysts boosted their rating for the social-media company’s stock to buy from neutral. They also raised their share-price target to $57 from $39. According to the analysts, the Snap results are likely to surprise on the upside – the analysts are 15% above consensus 2024 revenue and 30% above consensus 2024 non-GAAP operating income.
The analysts said that their upgrade is based on current macroeconomic conditions supportive of “elevated valuations for high growth stocks”. They also mentioned further upside potential for Snap due to e-commerce and small- and medium-sized business marketer tailwinds driving the broader online advertising sector.
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where SNAP advanced for three days, in of 320 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 18, 2024. You may want to consider a long position or call options on SNAP as a result. In of 85 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for SNAP just turned positive on April 18, 2024. Looking at past instances where SNAP's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .
SNAP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 61 cases where SNAP's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
SNAP moved below its 50-day moving average on April 19, 2024 date and that indicates a change from an upward trend to a downward trend.
The 50-day moving average for SNAP moved below the 200-day moving average on April 10, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SNAP declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Aroon Indicator for SNAP entered a downward trend on April 19, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. SNAP’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (7.692) is normal, around the industry mean (19.638). P/E Ratio (0.000) is within average values for comparable stocks, (49.308). Projected Growth (PEG Ratio) (5.636) is also within normal values, averaging (3.441). Dividend Yield (0.000) settles around the average of (0.026) among similar stocks. P/S Ratio (3.939) is also within normal values, averaging (110.312).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SNAP’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 93, placing this stock worse than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a developer of a text and photo based messaging application for mobile phones
Industry InternetSoftwareServices