There are a lot of social media apps out there. My favorite is Snapchat. The app lets users post snapshots of their life. They are there and gone in a flash, as friends can only access them for 24 hours. Even among popular sites like TikTok, it’s still a fan favorite of millennials. If you’re into social media app stocks, you may have considered Snapchat, but is it too late to purchase Snapchat stock?
https://www.youtube.com/watch?v=HeBTaWB0Ajc
Current Price
Right now, the stock is valued at over $10 a share. This represents a 69% decline over the last year. When looking at the six-month, one-year, and ten-year return values, it’s not that stark of a change. The annualized return today versus ten years ago only represents a 13% decrease. That’s not too bad. The stock price has been affected by the economic downturn, cutbacks within the company, and criticism of social media platforms. But all is not lost.
Analyst Ranking
Analysts are currently rating SNAP as a Hold. Many are putting it above META and watching it as it progresses. They are betting the stock price could go as high as $14 in the immediate future representing more than a 33% jump. Over the long haul, some believe it can go as high as $48. This can happen as businesses increase their marketing spend and the company increases its earning outlook.
Should You Buy It?
Whether or not you should buy it depends. Do you love the app and think it could be around for decades? Think it can continue to capture younger audiences as other platforms like TikTok increase in popularity? Do you think it can capture older audiences stuck in their ways? Will it be relevant as time goes on? If so, then it could be a buy for you.
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Shatel Huntley has a Bachelor’s degree in Criminal Justice from Georgia State University. In her spare time, she works with special needs adults and travels the world. Her interests include traveling to off-the-beaten-path destinations, shopping, couponing, and saving.
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