Earnings for this social media site were recently raised by 34%, and the company is forecasted to grow at an annual rate of 67.4% over the next five years.
Snap Inc (SNAP)
From Shortex Market Letter
52wk H. $18.00 52wk L. 4.82
Mkt Cap: $23.35B, EPS: -0.90 5, Beta: 1.07
The social media added 13 million daily users in the quarter. The largest since 2017 since its made an initial public offering (IPO). Daily user base at 7% increase from the previous quarter to 203 million. A far cry from the three quarters of declines. Technical picture in positive mode since Snap exited death cross to golden cross in late April ’19: (8-9.50) to (10-11) to (12-13.50). Gapping-up (14.83-17) to new high of 18.00
BUYING RANGE:
NR TERM OBJ: 24
INTERMED OBJ: 31
STOP LOSS: 14.06
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, July 25, 2019