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SNAP INC

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Snap Holds Bullish Earnings GapSnap rallied hard one month ago following strong quarterly results. Now it may be ready to move again. Notice the bullish gap on July 23 after the social-media platform’s profit, guidance, traffic and revenue beat estimates. SNAP has barely filled any of that gap, which indicates sellers are few and far between. The stock also held its early-July peak around $70, turning old resistance into new support. Next, SNAP jumped back above its 21-day exponential moving average (EMA) on Monday and held that line on Tuesday. Third, stochastics recently fell into an oversold condition and are now rebounding. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
NYSE:SNAPLong
by TradeStation
Snapchat - Keeps surprising!-Social networking company Snap's (NYSE:SNAP) recent second-quarter earnings release was followed by many upgraded 12-month price targets for the stock from analysts. One revised target stretched as high as $110, translating to nearly 50% upside from where the stock is trading today. Furthermore, many of the price target hikes were featured alongside buying or outperform ratings. -Capturing the company's improved advertising pricing, Snap said in its second-quarter update that its effective cost per 1,000 total ad impressions (eCPM) soared 122% year over year. -"Rising eCPM relative to the prior year reflects the rapid rise in overall demand, improved optimization capabilities within our auction, a mix shift toward relatively higher eCPM products, as well as a mix shift toward relatively higher eCPM regions such as North America," said Snap CFO Derek Andersen in the company's second-quarter earnings call. -Snap's trend of rising cost per 1,000 total ad impressions could persist over the next decade, Ju believes. Of course, the catalyst will decelerate from this quarter's triple-digit growth, as the period benefited from an easy year-ago comparison when marketers were holding back some ad spend as businesses navigated uncertain environments. -Other analysts similarly cited sustainable growth trends in advertising revenue growth. But some also praised the company's ability to grow its daily active users. -It's not surprising to see so many analysts growing more optimistic about Snap stock. The company's second quarter was truly exceptional. Revenue soared 116% year over year to $982 million, and the company's daily active users increased 23% year over year to 293 million. -Furthermore, Snap provided very strong guidance. Management said it expects revenue in the third quarter to increase 58% to 60% year over year. This is quite an extraordinary outlook considering it's on top of 52% growth in the year-ago quarter.
NYSE:SNAPLong
by caldooninvestment
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