Snap stock price predictions2/7/2024 Luminar Technologies (NASDAQ: LAZR) is a tech company that will benefit from the ongoing electric vehicle boom. Further, catalysts like a TikTok ban (a real possibility by 2030) will considerably boost Snapchat.Īll things considered, SNAP is one of the best tech stocks to buy now, and a steal in my book. The ad market’s bounce will also take some patience, but it will inevitably happen. I’m confident the company can pull off strong growth by 2030 by adjusting its ARPU. My point is that its current financials shouldn’t bear too much weight right now. At the same time, Snapchat’s daily active user base has been growing at a blistering speed and is at 383 million compared to 218 million in the pre-pandemic period. This is the primary metric the company needs to work on to reverse the sentiment, and it will not be too hard to do so if the ad market cooperates. Facebook’s average revenue per user is $9.62 worldwide, while Snapchat’s is just $2.58. Snapchat is yet to fully maximize its ad potential. However, it has returned to a more sustainable trajectory which Snapchat’s financials will also follow. Social media companies like Snapchat rely primarily on advertising revenue, which slumped considerably after the boom in 2021. The bearish sentiment behind SNAP stock is due to the company’s weak financials in the near term. ![]() It peaked near $83 back in 2021, and it is very unlikely that the company will fail to surpass this peak by 2030, considering the room for growth.įor starters, let’s talk about what went wrong here. Snap Inc (NYSE: SNAP) currently offers a buy point that’s too compelling to ignore.
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