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Summary
- Snap stock zoomed over 11 per cent on Tuesday.
- The surge came after the company announced that it expects more than 50 per cent revenue growth for the upcoming years.
- The social media stock is up more than 336 per cent in one year, with a market cap of nearly US$ 106.3 billion.
- Its interactive media platforms witnessed over 265 million daily active users in the fourth quarter, a 22 per cent rise on a year-over-year basis.
Stocks of Snap Inc. (SNAP:US or NYSE: SNAP) rocketed as much as 11.10 per cent on Tuesday, February, as the company announced an optimistic revenue growth estimation for coming years during its investor day.
Snap’s senior director Peter Sellis stated that they are in a strong position to incur revenue growth of more than 50 per cent in the upcoming years. Now, the social media giant has developed its advertisement system that has focused on monetizing its every impression.
The US-based interactive media company, which owns popular social media products Snapchat and Bitmoji, reported a 62 per cent year-over-year (YoY) jump to US$ 911.32 million for the fourth quarter of 2020. Its full-year 2020 revenue was also up by 22 per cent YoY.
Let us delve into the communication stock’s performance:
Snap Inc. (SNAP:US or NYSE: SNAP)
Snap stock has swelled nearly 43 per cent year-to-date.
The company has been actively investing in its camera and augmented reality segments. Its platforms have over 200 million daily users interacting with augmented reality, reported the company in an exchange filing.
The stock has been trading with a massive 50-day average volume of 22 million and a one-year return of over 336 per cent. It set a new 52-week high of US$ 72.95 per common share on Tuesday. Its market cap stands at US$ 106.3 billion.
It holds a price-to-book (P/B) ratio of 45.747 against its rival Facebook Inc. (FB:US or NASDAQ: FB) P/B ratio of 26.10.
Image Source: Kalkine Group @2020
More than 90 per cent Gen Z population in the US followed shows and other digital content on its platforms in Q4 2020, said the company.
Its daily active users (DAUs) surged by 22 per cent YoY to 265 million in the latest quarter. This increase in DAUs came primarily from the US, Canada, Europe, and other developing countries.
Outlook
In its financial guidance for the first quarter of 2021, Snap Inc. expects its revenue in the range of US$ 720 million to US$ 740 million against US$ 462 million in Q1 2020.
