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Snap Long

by SignalFactory   ·  July 22, 2021 | 09:28:41 UTC  

Snap Long

by SignalFactory   ·  July 22, 2021 | 09:28:41 UTC  

Snap (NYSE: SNAP) stock is scheduled to report its fiscal Q2 2021 results on Thursday, July 22.  

The expectation from SNAP is to beat the consensus estimates for revenues and earnings. The company has reported better than expected revenues and earnings figures in each of the last four quarters. In the past year, the company has increased engagement as daily average users increased across quarters. In March 2021, over 125 million Snapchatters used Spotlight, the company’s newest platform surfacing the most entertaining Snaps from the community. They have now launched Spotlight with a total of 14 countries, including three new countries — India, Mexico, and Brazil. We expect the same to drive the second quarter FY2021 results as well. 

1. Revenues expected to be ahead of consensus estimates in Q2:
Trefis estimate SNAP’s fiscal Q2 2021 revenues to be around $900 million, 6.5% above the $845 million consensus estimate. Snap’s revenue continued to increase as the shift toward online platforms for marketing and advertisement continued. The expectation from the momentum generated over the last few quarters is to continue in the second quarter of FY2021. Overall, the expected revenue of around $4 billion in FY2021.  

2. EPS likely to beat consensus estimates:
Snap’s Q1 2021 earnings per share are expected to be $-0.02 per Trefis analysis, above the consensus estimate of $-0.06. The company’s net income margin improved in 2020. Altogether, the company is likely to improve its EPS in 2021 to $-0.57 compared to $-0.65 in the previous year. 

3. Stock price estimates 30% above the current market price: 
Going by Snap’s valuation, with a Revenue per Share estimate of around $2.66 and a P/S multiple of 29x in fiscal 2021, this translates into a price of $77, which is 30% above the current market price of around $59.

Snap Long (Buy) 
Enter at: 65.80 
T.P_1:  70.22 
T.P_2: 78.37 
T.P_3: 86.73 
T.P_4: 91.67 
T.P_5: 100 
S.L: 57.50

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