From Nasdaq:

Snap’s stock (SNAP) has dropped around 30% YTD due to weak Q4 2023 results, missing revenue and ARPU targets. Despite this, the stock gained 6.2% yesterday following hints of possible rate cuts by the Fed chair. With a current price just below $12, Snap is trading 10% below its fair value of over $13.

In Q4 2023, Snap reported $1.36 billion in revenue, a 5% y-o-y increase driven by a 10% growth in average daily active users. However, a 5% drop in ARPU offset some of this growth. Operating loss decreased and the net loss was $248.2 million. For FY2023, revenues remained flat at $4.6 billion, with a net loss decreasing to $1.3 billion.

Looking ahead to Q1, Snap forecasts revenues to remain around $5.23 billion in FY2024. The revenue per share is expected to improve to $3.24, leading to a valuation of just above $13. Returns show Snap underperforming the S&P 500 in 2024 YTD, but the Trefis Reinforced Value Portfolio has outperformed both.



Read more at Nasdaq: Up 6% In The Last Trading Session, Where Is Snap Stock Headed?