Long Position on SNAP @ $75.75 on 8/12/2021 (Fundamentals)

Snap Inc. (SNAP) operates as a camera company in the United States and internationally.

The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images.

It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Santa Monica, California.

Snap Inc. reported 2nd Quarter June 2021 earnings of $0.07 per share on revenue of $982.1 million. The consensus estimate was a loss of $0.01 per share on revenue of $845.0 million. Revenue grew 116.2% on a year-over-year basis.

The company said it expects third quarter revenue of $1.07 billion to $1.085 billion. The current consensus revenue estimate is $1.01 billion for the quarter ending September 30, 2021.

Share prices should rise as the stock moves along it's "bullish flag" formation.

Entry Point: $75.75

Trading Range: $20.68 - $80.85

Stop Loss: $72.00

Target Price: $83.30

Updates

9/24/2021 12:13:25 PM

SNAP closed at $82

Position closed on 9/24/2021 at price of $82.00 with a 8.25% gain in 43 days.

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