#3 - Snap (NYSE:SNAP)
Snap (NYSE:SNAP) stock has climbed nearly 65% since releasing strong fourth-quarter earnings on February 3. However, an earnings report by itself is not enough to drive such a gain in the midst of the downward pressure on tech stocks.
For that, some analysts are suspecting that Snap’s approach to the metaverse is the key; maybe it will be called “metaverse light.” Using its Spectacles augmented reality glasses as the lynchpin, Snap is attempting to tie our physical reality with our digital presence. The plan is to allow real human connections on a social media platform.
It may not be as innovative or as big of a swing as its competitors but in a market that the Bloomberg Institute estimates may be valued at $800 billion by 2024, it may be enough to capture a significant piece of the pie.
Analysts give SNAP stock a price target of $59.81 which would give investors an impressive 47.25% gain.
About Snap
Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.
Read More - Current Price
- $16.25
- Consensus Rating
- Hold
- Ratings Breakdown
- 9 Buy Ratings, 15 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $14.79 (9.0% Downside)
