A dark pool trade was detected in Snap $SNAP stock in early morning trading on September 8, 2022. News is circulating that an internal memo from the CEO of Snap leaked to the public showing excellent forecasted revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... growth for 2023.
UBS ‘encouraged’ by Snap’s bullish targets for FY23
On September 8, 2022, UBS analyst Lloyd Walmsley kept his Buy rating and $15 price target on Snap after the TheVerge report citing an internal memo by the company CEO that laid out bullish targets for FY23 revenues and daily active users. The analyst contends that growth likely bottomed in July and the investment story can improve into FY23, also stating that Snap has done an excellent job executing while showing DAU growth of 85% since FY18 and tripling its revenue from FY18 through expected FY22.
BofA ‘encouraged by management’s ambitions’ after Snap CEO memo leak
On September 8, 2022, BofA analyst Justin Post noted that an internal memo sent by Snap CEO Evan Spiegel was leaked to the press in which the executive outlined 2023 goals that include revenue of $6B, adjusted EBITDA above $1.5B, and free cash flowThe cash flow statement provides a detailed overview of the cash inflows and outflows of a company over a specified period of time. It includes cash received from operations, inves... above $1B, all of which are above the Street’s current consensus. While he sees these targets as “a stretch,” Post notes he also has above-Street estimates for 2023 and says he is “encouraged by management’s ambitions.” Post reaffirms a Buy rating and $22 price target on Snap shares.
Snap CEO projects $6B in 2023 revenue in a leaked memo, Verge says
On September 7, 2022, Snap CEO Evan Spiegel told employees in an internal memo sent to staff on September 6 that was obtained by The Verge that the company aims to grow Snapchat’s user base by 30% to 450M by the end of next year and that it seeks to increase revenue by 20% to $6B in 2023, according to Alex Heath. According to Heath’s report, Spiegel said the plan is for $350M of that revenue to come from the recently introduced paid subscription Snapchat recently introduced, which he noted is already on track to hit 4M subscribers by the end of this year. The memo shows that for FY23, Spiegel forecasted $1.5B+ of adjusted EBITDA and $1B+ of free cash flow. Source: https://www.theverge.com/2022/9/7/23340157/snapchat-evan-spiegel-leaked-memo-turnaround
Dark Pool Trades In $SNAP Stock
Guerilla Stock Trading has detected dark pool trades in $SNAP stock since the leaked memo on September 7, 2022. The dark pool trades appear to be buying from an institutional investor on the memo leak.
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📺 Snap likely has a lot of upside for the future, says Platformer’s Casey Newton
📈 Snap $SNAP Chart Technical Analysis
Snap $SNAP stock is trading sideways along a bottom and is a bottom feeder’s delight play. Snap stock is in a technical downtrend. Long-term indicators support a continuation of the downtrend, while short-term indicators suggest that a trend reversal is possible.