Reading the tape
NYSE: SNAP
Snap Inc.
Communication Services · Internet Content & Information
Market Cap
$10.57B
52w High
$10.41
52w Low
$3.81
P/E
-23.25
Volume
1.44M
Outstanding Shares
1.69B
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -27.84%Revenue (TTM): 10.63%FCF (TTM): 99.95%P/FCF: 0th pct
What changed
The stock fell 27.84% over the last year. Revenue grew 10.63% over the trailing twelve months. Operating margin moved from -14.68% to -8.97%. Free cash flow grew 99.95% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently -8.97%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Snap Inc. operates as a camera company in North America, Europe, and internationally.
CEOEvan T. Spiegel
SectorCommunication Services
IndustryInternet Content & Information
Employees5,061
IPO dateMar 2, 2017
Valuation
Forward P/E—
EV/EBITDA-103.21
Enterprise value$17.47B
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth10.22%
Gross margin54.97%▲2.08%vs FY2024
Operating margin-8.97%▲38.90%vs FY2024
ROE-20.18%▲29.12%vs FY2024
Analyst consensus
RatingHold
Target price$7.89▲26.04%
29
Buy
38
Hold
5
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 6, 2026
Q2 FY26 · EPS est $0.09 · Revenue est $1.53B
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