Snap (NASDAQ: SNAP) stock price topped market averages and broader market indices in fiscal 2019. Its share price rally of 180% in the past twelve months stunned investors and market pundits. Fortunately, the sentiments are positive about future performance despite a sharp rally in the past couple of quarters.
Snap stock price is currently trading around an all-time high of $18. The majority of analysts are expecting the share price to hit $25 mark in the coming days. This is because of its growth potential and improvement in financial numbers. The company has beaten revenue and earnings estimates for the third quarter.
Strong Financial Growth is Key for Snap Stock
Snap stock price has been receiving support from its financial growth. The company generated year over year revenue growth of 50% in the latest quarter. Its daily active users rose 13% year-over-year to 210 million in Q3.
Moreover, the company also reported a decline in losses and a boost in cash flows. Its third-quarter loss of $42 million decreased by $98 million from the year-ago period. On the other hand, operating cash flow grew $56 million and free cash flows increased $75 million from the past year period.
Its CEO Evan Spiegel said, “We are a high growth business, with strong operating leverage, a clear path to profitability, a distinct vision for the future, and the ability to invest over the long term. We are excited about executing on the many opportunities in front of us.”
Analysts are Bullish About Upside
Loop Capital increased Snap stock price target to $20 from $5, citing user engagement and strong revenue growth. Moreover, Aegis Capital has also set a Buy rating. The firm is incrementally positive on Snap’s user growth, especially outside the U.S. Its analyst expects the company to sustain revenue growth in fiscal 2020 amid increasing ad shares. Overall, the market sentiments are positive about SNAP share price performance.
Trusted & Regulated Stock & CFD Brokers
What we like
- 0% Fees on Stocks
- 5000+ Stocks, ETFs and other Markets
- Accepts Paypal Deposits
Min Deposit
$200
Charge per Trade
Zero Commission on real stocks
64 traders signed up today
Visit Now67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Available Assets
- Total Number of Stocks & Shares5000+
- US Stocks
- German Stocks
- UK Stocks
- European
- ETF Stocks
- IPO
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 Zero Commission
- NASDAQ Zero Commission
- DAX Zero Commission
- Facebook Zero Commission
- Alphabet Zero Commission
- Tesla Zero Commission
- Apple Zero Commission
- Microsoft Zero Commission
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
- Paypall
- Skrill
- Neteller
What we like
- Sign up today and get $5 free
- Fractals Available
- Paypal Available
Min Deposit
$0
Charge per Trade
$1 to $9 PCM
Visit Now
Investing in financial markets carries risk, you have the potential to lose your total investment.
Available Assets
- Total Number of Shares999
- US Stocks
- German Stocks
- UK Stocks
- European Stocks
- EFTs
- IPOs
- Funds
- Bonds
- Options
- Futures
- CFDs
- Crypto
Charge per Trade
- FTSE 100 $1 - $9 per month
- NASDAQ $1 - $9 per month
- DAX $1 - $9 per month
- Facebook $1 - $9 per month
- Alphabet $1 - $9 per month
- Telsa $1 - $9 per month
- Apple $1 - $9 per month
- Microsoft $1 - $9 per month
Deposit Method
- Wire Transfer
- Credit Cards
- Bank Account
Share
Siraj Sarwar
