In many cases, holding a stock through its earnings release may result in experiencing the dreaded “buy the hype, sell the news” cycle, wherein many traders take profits by selling in a downward self-fulfilling prophecy. However, sometimes the stock can skyrocket on its impressive quarterly results. The latter is what occurred to Snap Inc. (SNAP), which saw its share price climb 23.82% on Friday. (See Snap stock charts on TipRanks)   Reporting on the jubilation is Justin Post of Bank of America, who wrote that Snap beat the consensus on revenue, EBITDA and daily active users. Furthermore, it raised its FY22 guidance by 11%.   Post reiterated a Hold rating on the stock, and declared a price target of $80.
https://www.tipranks.com/news/article/snap-reported-rosy-picture-but-now-overvalued?utm_source=advfn.com&utm_medium=referral
Snap (NYSE:SNAP)
Historical Stock Chart
From Sep 2021 to Oct 2021 Click Here for more Snap Charts.
Snap (NYSE:SNAP)
Historical Stock Chart
From Oct 2020 to Oct 2021 Click Here for more Snap Charts.