Snap Inc. reported strong Q4 2024 performance, but RiverPark Large Growth Fund prefers AI stocks

From Yahoo Finance: 2025-04-04 19:09:00

Think Investments, a San Francisco-based firm, specializes in long-term investments in tech-driven early-stage companies. Founder Shashin Shah’s global investing experience guides the firm’s $1 billion portfolio in Indian financial services, healthcare, tech, and consumer sectors. With $454.51 million managed in Q4 2024, Think Investments’ top ten holdings represent 80.57%.

Snap Inc. (NYSE:SNAP), the parent company of Snapchat, reported strong Q4 2024 performance, beating analyst expectations with adjusted EPS of $0.16 and revenue of $1.56 billion. Net income improved to $9.1 million from a $248 million loss last year, with daily active users at 453 million. Snap projects Q1 2025 revenue between $1.32 billion and $1.36 billion.

As of Q4 2024, Think Investments held over 3.8 million shares in Snap Inc. (NYSE:SNAP), valued at $41 million. Hedge fund interest in Snap increased, with 44 out of 1,009 funds holding nearly $1.44 billion worth of positions. Snap reaffirmed its commitment to sustainable growth, balancing short-term expense increases with strategic investments for long-term success.

RiverPark Large Growth Fund views Snap Inc. (NYSE:SNAP) as a top stock to buy according to Think Investments, ranking 3rd on the list. While acknowledging Snap’s potential, the fund sees greater promise in AI stocks for higher returns within a shorter timeframe. Snap’s Q3 2024 performance was impacted by revenue falling short of expectations due to weakness in Brand Advertising.

Read more: Is Snap Inc. (SNAP) the Top Stock to Buy According to Think Investments?