Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. 3 Reasons to Pick First Citizens Instead of First Republic Bank.3 Reasons Why Apple’s 30% Rally Has Legs.Hypercharge Networks: Up Triple Digits, But What’s The Big Deal?.2 Beautiful Investments In A Growing Industry.What Factors Will Drive S&P 500 Performance This Year?.Walmart Makes Moves for Efficiency with Robots to Spur Sales.FedEx Takes Flight Analysts See More Gains Ahead.3 Low-Cost Stock ETFs That Are Crushing It This Year.The WD-40 Company Bottoms With Reversal In Sight.First Republic Bank Is A Speculative Play, Here’s Why.Costco Sales Disappoint, Markets Are Missing This Upside Driver.Investing in Cybersecurity Stocks: The AI Advantage.Tesla Stock: Reasons to Worry or Reasons to Buy.Finding High-Yield Value Stocks: Guide For Investors.The Trader's Guide to Equities Research.A move above the resistance at $10 will invalidate the bearish view. Therefore, the path of the least resistance for the Snapchat share price is lower, with the next key support level being at $6. It also crashed below all moving averages. This means that it managed to move below the lower side of the bearish pennant pattern that is shown in black. The stock dropped to a low of $7.78 after its earnings.
And it seems like the situation always gets worse after every quarter. Turning to the weekly chart, we see that the Snap stock price has been in a freefall in the past few months. So, what next for Snap? Snap share price forecast Meanwhile, with inflation rising, companies are being careful about their ad spending. At the same time, the recent iOS upgrades have made it difficult for companies to deliver targeted advertisements. Most companies have recently shifted their ad dollars to TikTok, which has gone viral in the past few years. Like other social media companies, Snap is struggling as competition with the likes of TikTok and BeReal rises.
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