Otherwise, a minimal increase of 4.74% though a decline of -19.1 percentage points YoY, respectively. SNAP's Performance Remains Lacking, Though Things May Improve By FY2023įor its upcoming FQ3'22 earnings call, SNAP is expected to report revenues of $1.11B and an operating margin of -36%, representing inline QoQ. Combined with the Fed's projected terminal rate of 4.6% by 2023, indicating a 75 basis point hike in November, with January 2023 moderating to 50, we may speculatively assume that most of the pessimism is already baked in, pointing to the stock's near bottom levels. Assuming a moderated September CPI by early October, we may see a meaningful stock market recovery ahead. Though the macroeconomics seemed to be at peak pessimism levels, with the S&P 500 Index plunging by -25.25% YTD, we expect these to be temporary headwinds. With a monthly fee of $3.99, we may be looking at a really nice boost in SNAP's top and bottom line growth indeed. The critical key will be its Snapchat+ performance in FQ3'22, given the management's early announcement of over 1M paying subscribers within six weeks of launch since June 2022. Its improved profitability may also trigger a slow but sure stock recovery ahead, depending on its upcoming FQ3'22 call. Nonetheless, the winds of change seem to be here for SNAP, given its strategic cost cuts thus far and ambitious targets of $6B revenue and 450M Daily Active Users (DAU) by FY2023. It had also a poorer 5Y return of -32.9%, compared to Meta's -20.2% (post-Apple (AAPL) correction ) and GOOG's 100.8%. Both companies had reported massive growth with ad revenues of $114.93B and $209.49B in FY2021, respectively, compared to SNAP's -$487.96M net losses at the same time. Snap (NYSE:SNAP) has had a poor track record in the past few years, despite the boom of social media giants during the heights of pandemic, such as Meta (META) and Alphabet (GOOG) (GOOGL). Therefore, investors with higher risk tolerance and long-term trajectory may want to add at the $7 to $8 range, if the S&P 500 Index continues to decline over the week. The management may just prove the bears wrong, since its poorer past execution puts no bearing on its future performance. Though SNAP has been underperforming for the past few years in comparison to Meta & GOOG, we may see a slow but steady turnabout by FY2023, given its ambitious targets.
Snap: Not Keeping Up? 2023 May Be Its Break Out YearĪ friendly reminder that SNAP will be reporting its critical FQ3'22 earnings on 20 October 2022, putting its Snapchat+ to the test. A copy of the complaint is available upon request. The lawsuit was filed in Los Angeles Superior Court on October 13, 2022. It also includes 16-year-old A.B., who survived, continues to use the defective and inherently dangerous Snapchat product without her parents’ consent and is not named in court documents because she’s a minor. who all died after unknowingly taking fentanyl-laced pills sold by Snapchat drug dealers. SMVLC and CA Goldberg PLLC filed the lawsuits on behalf of the families of Alexander Neville, 14, from San Diego, CA Daniel Puerta, 16, from Santa Clarita, CA Jeff Hernandez, 17, from Elk Grove, CA Dylan Kai Sarantos, 18, from Los Angeles, CA Devin Norring, 19, from Hastings, MN Jack McCarthy, 19, from Birmingham, MI Alexandra Capelouto, 20 from Temecula, CA and Daniel (Elijah) Figueroa, 20, from Seal Beach, CA. Snapchat provides drug dealers with a never-ending source of young customers, obstructs parental supervision, enables dealers to locate and access nearby minors and young adults, and promises the posting and exchange of drug menus and other information that disappears – erasing evidence of the sale and crime. The suit alleges that Snapchat’s disappearing messages, My Eyes Only and Snap Map features, among other products unique to the social media platform encourage, enable and facilitate illegal and deadly drug sales of counterfeit pills containing lethal doses of fentanyl to minors and young adults. In all eight cases, the children and young adults believed they were purchasing non-lethal medications, like Percocet or Xanax but the pills were actually fentanyl pressed to look like prescription medications and in doses lethal enough to kill multiple people with a single dose. on behalf of the families of nine teenagers and young adults, eight of whom died after taking drugs purchased from drug dealers who they connected with through Snapchat. Goldberg, PLLC, a New York law firm representing victims of catastrophic injuries caused by tech giants, have filed a lawsuit against Snap Inc. The Social Media Victims Law Center (SMVLC), together with C.A. Social Media Victims Law Center and CA Goldberg, PLLC File Suit Against Snap, Inc
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