Generally, the report was positive, with daily active users rising by 23% to 293 million, revenue increased by 116% year-over-year to $982 million. In addition, the net loss improved 53% to $152 million in Q2 2021, compared to the previous year. Following the results, the Santa Monica, California-based social media and augmented reality (AR) leader has now pulled back to test support at its 50-day simple moving average (SMA). The firm is still trading above its 50 and 200-day SMA but is currently under its short-term 20-day SMA. There is a positive long-term trend, and a neutral short-term trend in the market since the stock outperforms 95% of all equities when comparing the market’s annual performance. Over and beyond, SNAP’s indicates a good and regular trend of price increases.  Currently, SNAP is trading in the upper part of its 52-week range, although since the S&P 500 Index is currently trading near a new high, SNAP is trailing the market slightly. In the last month, SNAP has been trading in the $69.82 – $77.88 range, which is quite broad, and it is currently trading near the lows of this range. Since prices have been falling firmly recently, it is better to avoid opening new long positions here. However, there is a support zone below the current price at $71.30, so one could place a stop order below this zone if looking for an entry point. The first support zone ranges from $70.86 to $71.30; it is formed by multiple trend lines and important moving averages in various time frames. Conversely, a resistance zone ranging from $77.97 to $78.15 is formed on the horizontal trend line.

Wall Street Analysts estimate

As determined by the 28 Wall Street analysts that have provided 12-month price predictions for SNAP over the past three months, SNAP stock has a median price goal of $87.17, with a high forecast of $110.00 and a low prediction of $67.00. Twenty TipRanks experts have reiterated their ‘Buy’ recommendations for SNAP in the past three months, while seven have recommended ‘Hold.’ It’s noteworthy that just one individual advocates to ‘Sell ‘. Therefore SNAP is considered a sensible investment by most analysts, with an increase of 22.24% from its last price of $71.31.

Snap just launched Snapchat Trends for companies looking to increase audience engagement; the product helps them identify popular subjects through case studies.  To help companies reach Snapchat’s 293 million daily active users, the social media and AR pioneer identified five ways businesses may utilize Snapchat Trends. Using the platform, companies may improve the efficiency of their market research and copywriting efforts. Additionally, they can use Snapchat to generate engagement and market research via user profiles and personas. Overall, the platform has a solid track record and a promising future, although the average revenue per user (ARPU) has gradually risen from $2.7 and $3.4 in the last few quarters. If the price per user gets too excessive, it offers room for downside risk. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. [coinbase]