Home Tech Snap Stock: If you had $ 1,000 invested in stocks a year ago, you would own that much now!

Snap Stock: If you had $ 1,000 invested in stocks a year ago, you would own that much now!

by drbyos

Investors who owned stocks last year have generally made some big gains. In fact, the total return is the SPDR S&P 500 (NYSE: SPY) 55.9% over the past 12 months. But there’s no question that some big-name stocks outperformed others along the way.

The run of Snap

One company that has been an excellent investment over the past year is the social media giant Snap Inc (NYSE:SNAP).

Snapchat stock got off to a lackluster start in the public markets after a much-anticipated IPO in 2017. After the IPO price was $ 17, Snap shares traded for just $ 4.82 in December 2018.

Fortunately for Snap investors, the 2020 COVID-19 pandemic was actually very good for Snap’s business. While other companies have struggled with economic downtime, people around the world who sought safety had little other means of entertainment and social interaction than social media.

In 2019, Snap reported a loss of 75 cents per share on sales of $ 1.71 billion. In 2020, those numbers improved to a 65-cent EPS loss on sales of $ 2.5 billion.

In early 2020, Snap stock was trading at around $ 16.62. In early March, the stock fell to $ 14.35 as news of the spread of COVID-19 in China sparked pandemic concerns in the United States.

During the March pandemic sell-off, Snap bottomed at $ 7.89. Fortunately for Snap investors, the slide didn’t last long.

In late May, Snap shares hit new 52-week highs near $ 20 again, and the stock climbed to $ 26.76 in July before going through an extended period of consolidation. In October, Snap stock jumped more than 30% to a new all-time high after the company reported phenomenal subscriber growth in the third quarter.

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Snap in 2021 and beyond

Snap eventually made it as high as $ 73.59 in February 2021 before dropping to around $ 59. Traders may take profits on the stock that was among the top performers in the market last year. You might be concerned that Snap still hasn’t reported a profitable quarter despite the boom in subscriber numbers during the pandemic. Or they just see the 2020 pandemic setting up snap for some lackluster growth numbers in the quarters to come.

Save a free PDF report for Snap: Download it for free here

Still, Snap investors who bought and held out a year ago have seen a great return on their investment. In fact, $ 1,000 in Snap stock bought on May 3, 2020 would be worth about $ 3,682 today.

The analysts expect more upside for Snap over the next 12 months. The average target price of the 34 analysts monitoring the stock is $ 79, which represents an upside of 33.6% from current levels.

Should Snap Investors Sell Right Now? Or is it worth getting started?

How will Snap develop now? Is your money safe in this stock? Find out the answers to these questions and why you need to act now in the latest Snap stock analysis.

4,760 investors receive news and analytics about Snap via email

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