How to Buy Snap Stock
Snap Inc
Snap is a internet content & information company located in California, United States, which is part of the Communication Services sector, and is traded under the ticker SNAP on the NYSE exchange.
Snap stock last closed at $16.05, up 0.19% from the previous day, and has increased 71.29% in one year. It has overperformed other stocks in the Internet Content & Information industry by 0.37 percentage points. Snap stock is currently +93.84% from its 52-week low of $8.28, and -10.34% from its 52-week high of $17.90.
As of May 17, 2024, there are 1.64B SNAP shares outstanding. The market cap of SNAP is $26.34B. In the past 24 hours, 12.17M SNAP shares were traded.
How to Buy Snap Stock
Not sure how to invest in Snap stock? Here's how.
- Figure out where to buy Snap stock: You need to pick a stock brokerage, but don't worry - we've researched dozens of online brokerages and apps to help you choose where to buy Snap stock.
- Open a brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've selected.
- Fund your brokerage account: Choose your method of payment and add your information.
- Evaluate Snap stock: The Snap ticker symbol is SNAP. Is Snap stock a good investment? Should you buy shares of SNAP? How do SNAP's underlying business fundamentals look? Do top analysts think Snap is a good buy? Why has SNAP's stock price moved recently? (Hint: Our stock analysis website can help you decide if SNAP is a good stock to buy).
- Make your SNAP buy order: Decide if you will purchase SNAP shares at the current market price or use a limit order to buy SNAP stock at a particular price.
- Get the latest scoop on your SNAP investment: Create a watchlist to important notifications about your investment in Snap shares.
Step 1: Figure out where to buy Snap stock
You will need a brokerage account in order to access the NYSE market and buy SNAP stock.
Our preferred brokerage: eToro
Based on our analysis, eToro is the best brokerage. eToro gives you:
- You can invest in stocks with zero commissions: Invest without commissions.
- Buy fractional shares: Even if you don't have the money to buy a full share, you can still purchase the stock.
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- Social investing: eToro has a community of more than 20 million users globally. Talk to, learn from, and copy the unique crypto portfolios of other investors.
- Security: eToro is a regulated and licensed fintech leader.
- Buy other financial assets: Such as ETFs and cryptocurrencies.
Get $10 towards your purchase of shares by signing up for an account with eToro today.
Open eToro AccountStep 2: Open a brokerage account
Now that you've selected your brokerage, you need to fill out some personal details so you are able to invest in SNAP stock today.
How to Set Up a New Brokerage Account on eToro
- Click here to get started.eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
- Input your personal details to open your new trading account.
- Send your application by clicking the "Create Account" button. Get started with eToro today
Step 3: Fund your brokerage account
Now that you have filled out your info on the stocks app, you need to deposit funds:
Watch the walkthrough below for more details depositing funds into your new brokerage account.
Step 4: Evaluate Snap stock
Once you have identified the best place to buy Snap stock, it's crucial to analyze their stock before you buy, so you can wrap your head around the risk and opportunity.
Snap stock data
Snap Fundamentals
WallStreetZen was designed to help everyday investors do more accurate fundamental analysis in minutes instead of hours.
You can see all of the due diligence checks on SNAP's stock page.
Is SNAP stock properly valued?
You can use a variety of different financial metrics, analyses, models, and charts to gauge SNAP's true value.
Using relative valuations metrics:
- SNAP could be overvalued based on its P/B ratio of 12.36x, relative to Internet Content & Information industry P/B ratio of 6.75x
You can access additional valuation research on SNAP's stock here.
A look at SNAP Cashflows and Balance Sheet
Passed Financial Due Diligence Checks:
- There are more short-term assets than short-term liabilities on the SNAP balance sheet.
- There are more short-term assets than long-term liabilities on the SNAP balance sheet.
- SNAP has $2.91B in cash and short term investments. This is sufficient to cover its annual cash burn of $30.77M.
- SNAP has cash burn of 30774000. It has enough cash and short-term investments to cover this for at least one year.
Failed Financial Due Diligence Checks:
- SNAP has a relatively high debt to equity ratio of 2.36.
- SNAP profit margin has gone up by 0.04 percentage points in the past year, but the company is still unprofitable.
- Total SNAP debt is higher than 5 years ago, relative to shareholder equity.
Is it a good time to buy SNAP stock, according to Wall Street analysts?
Out of 20 Equities analysts who research SNAP, the consensus analyst rating on SNAP is a Buy
Please keep in mind that analyst ratings are not recommendations, nor are they financial advice.
Latest SNAP Analyst Forecasts
Brian Nowak, a top 5% analyst from Morgan Stanley maintains SNAP with a strong sell rating and raises their SNAP price target from $11.00 to $12.00, on Apr 26, 2024.
Eric Sheridan, a top 1% analyst from Goldman Sachs maintains SNAP with a hold rating and raises their SNAP price target from $13.50 to $16.00, on Apr 26, 2024.
Brad Erickson, a top 5% analyst from RBC Capital maintains SNAP with a hold rating and raises their SNAP price target from $13.00 to $16.00, on Apr 26, 2024.
Youssef Squali, a top 1% analyst from Truist Securities maintains SNAP with a hold rating and raises their SNAP price target from $12.00 to $16.00, on Apr 26, 2024.
Truist Securities's Youssef Squali raised their price target on Snap (NYSE: SNAP) by 33.3% from $12 to $16 on 2024/04/26. The analyst maintained their Hold rating on the stock.
Squali's update followed an assessment of Snap's Q1 2024 earnings report, released on 2024/04/25.
Factors accounting for Snap's quarterly beat, according to the analyst, include:
- Gains in DR and brand sales.
- The success of Snapchat+.
- Good cost management.
The upturn in DR and Brand growth indicates that the expanding pool of advertisers is beginning to notice Snap's new ad offerings, Squali said.
Earnings Report
For Q1 2024, Snap reported:
- EPS of $0.03, which beat the Zacks Consensus Estimate by 160% and, by 200%, Q1 2023's $0.01.
- Revenue of $1.19B, which beat the Zacks Consensus Estimate by 6.79% and Q1 2023's $989M by 20.9%.
- Adjusted EBITDA of $45.7M, up from Q1 2023's $0.813M.
- 422M DAUs (Daily Active Users), up 10% Y/Y.
For Q2 2024, management guided:
- Revenue of $1.225B to $1.255B, implying Y/Y revenue growth of 15% to 18%.
- Adjusted EBITDA of $15M to $45M.
- 431M DAUs.
CEO Evan Spiegel commented: “The value we provide our community and advertising partners has translated into improved financial performance.
“Our large, growing, and hard-to-reach community, brand-safe environment, and full-funnel advertising solutions have made us an increasingly important partner for businesses of all sizes.”
Mark Kelley, a top 2% analyst from Stifel Nicolaus maintains SNAP with a hold rating and raises their SNAP price target from $12.00 to $13.00, on Apr 26, 2024.
You can dive deeper into what analysts are forecasting on the Snap stock forecast page.
SNAP Trading Indicators
SNAP Performance Metrics
Last year, SNAP revenue was $4.81B. In the last five year, SNAP's revenue has gone up by 30.53% per year. This was faster than the Internet Content & Information industry average of 19.61%.
Dive into SNAP's earnings and revenue performance here.
Are SNAP executives and large shareholders buying or selling the stock?
In the past year, executives and large shareholders at SNAP have sold more shares than they have bought.
Derek Andersen, Chief Financial Officer of SNAP, was the latest SNAP insider to sell. They sold $419,360.99 worth of SNAP shares on May 15, 2024.
Research more about who owns SNAP stock here.
Does SNAP stock generate passive income?
No, Snap doesn't provide an income stream by paying out dividends.
Get analysis from other investors
One of the primary reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to find out what other investors have to say.
Step 5: Make your SNAP buy order
There are two main order types:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are mostly fine. - Limit order: A limit order is an order to buy or sell a stock at a specific price (or better).
If you want to be certain you're buying or selling at an exact dollar amount limit, place a limit order.
Press the Open Trade button and your broker will place the order.
If you need more help buying stocks on eToro, click the how to video below:
Step 6: Get the latest scoop on your SNAP investment
Now that you own some shares in SNAP, you'll want to stay up-to-date on your investment.
Make a watchlist to track the latest developments regarding your SNAP stock.
SNAP Feed
How to Buy Stock in Snap
To reiterate, here are the 6 steps for buying Snap stock:
- Figure out where to buy Snap stock
- Open a brokerage account
- Fund your brokerage account
- Evaluate Snap stock
- Make your SNAP buy order
- Get the latest scoop on your SNAP investment
If you need a brokerage account, eToro is our recommended option.
Get Started with eToro TodayIf you want to keep an eye on your investment in Snap, create a watchlist on WallStreetZen today.
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