Long Position on SNAP @ $67.00 on 6/28/2021 (Fundamentals)

Snap Inc. (SNAP) operates as a camera company in the United States and internationally.

The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. 

Snap reported a 1st Quarter March 2021 loss of $0.03 per share on revenue of $769.6 million. The consensus estimate was a loss of $0.05 per share on revenue of $742.0 million. Revenue grew 66.4% on a year-over-year basis.

The company said it expects second quarter revenue of $820.0 million to $840.0 million. The current consensus revenue estimate is $821.01 million for the quarter ending June 30, 2021.

This stock should see an increase in share prices as shares of the company behind Snapchat had gained 10.77% in the past month. In that same time, the Computer and Technology sector gained 6.03%, while the S&P 500 gained 1.74%. This upward trend should reflect in the company's earnings report end of July.

Entry Point: $67.00

Stop Loss: $63.65

Trading Range: $20.61 - $73.59

Target Price: $73.70

Updates

7/23/2021 9:40:54 AM

SNAP closed at $78.50

Position closed on 7/23/2021 at price of $78.50 with a 17.16% gain in 25 days.

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