Snap (SNAP)
Market Price (4/14/2026): $5.16 | Market Cap: $8.8 BilSector: Communication Services | Industry: Interactive Media & Services
Snap (SNAP)
Market Price (4/14/2026): $5.16Market Cap: $8.8 BilSector: Communication ServicesIndustry: Interactive Media & Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34% Stock buyback supportStock Buyback 3Y Total is 1.3 Bil Megatrend and thematic driversMegatrends include Social Media & Creator Economy. Themes include Social Media Platforms, Creator Economy Monetization, and Ad-Tech Platforms. | Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -119% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -532 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9.0% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 17% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.4% Key risksSNAP key risks include [1] slowing advertising revenue and stagnant user engagement, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34% |
| Stock buyback supportStock Buyback 3Y Total is 1.3 Bil |
| Megatrend and thematic driversMegatrends include Social Media & Creator Economy. Themes include Social Media Platforms, Creator Economy Monetization, and Ad-Tech Platforms. |
| Weak multi-year price returns2Y Excs Rtn is -86%, 3Y Excs Rtn is -119% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -532 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -9.0% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -9.4% |
| Key risksSNAP key risks include [1] slowing advertising revenue and stagnant user engagement, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Disappointing User Growth and Weak Forward Guidance. Snap's Q4 2025 earnings report on February 4, 2026, revealed global daily active users (DAUs) of 474 million, falling short of Wall Street's expectation of 478 million. North American DAUs also missed projections at 94 million, against an anticipated 97 million. Coupled with Q1 2026 revenue guidance of $1.50 billion to $1.53 billion, which was below the $1.55 billion estimate, the stock experienced a significant drop of 13.37% on the day of the announcement.
2. Increased Regulatory Scrutiny and Legal Challenges. Throughout Q1 2026, Snap faced intensifying regulatory pressure. On March 26, 2026, the European Commission initiated a formal investigation under the Digital Services Act (DSA) concerning Snapchat's age verification systems and its handling of harmful content. Non-compliance with the DSA could result in fines up to 6% of Snap's global annual revenue, which, based on 2025 revenue, could amount to approximately $356 million. These actions followed calls for stricter controls on children's social media usage by regulators in the UK and Australia, along with a lawsuit filed by New Mexico citing child safety concerns.
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Stock Movement Drivers
Fundamental Drivers
The -36.2% change in SNAP stock from 12/31/2025 to 4/13/2026 was primarily driven by a -37.4% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4132026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.07 | 5.15 | -36.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,772 | 5,931 | 2.8% |
| P/S Multiple | 2.4 | 1.5 | -37.4% |
| Shares Outstanding (Mil) | 1,697 | 1,711 | -0.8% |
| Cumulative Contribution | -36.2% |
Market Drivers
12/31/2025 to 4/13/2026| Return | Correlation | |
|---|---|---|
| SNAP | -36.2% | |
| Market (SPY) | -5.4% | 57.0% |
| Sector (XLC) | -2.5% | 51.4% |
Fundamental Drivers
The -33.2% change in SNAP stock from 9/30/2025 to 4/13/2026 was primarily driven by a -35.2% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4132026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.71 | 5.15 | -33.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,638 | 5,931 | 5.2% |
| P/S Multiple | 2.3 | 1.5 | -35.2% |
| Shares Outstanding (Mil) | 1,675 | 1,711 | -2.1% |
| Cumulative Contribution | -33.2% |
Market Drivers
9/30/2025 to 4/13/2026| Return | Correlation | |
|---|---|---|
| SNAP | -33.2% | |
| Market (SPY) | -2.9% | 49.7% |
| Sector (XLC) | -2.7% | 42.6% |
Fundamental Drivers
The -40.9% change in SNAP stock from 3/31/2025 to 4/13/2026 was primarily driven by a -45.6% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4132026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.71 | 5.15 | -40.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,361 | 5,931 | 10.6% |
| P/S Multiple | 2.7 | 1.5 | -45.6% |
| Shares Outstanding (Mil) | 1,681 | 1,711 | -1.7% |
| Cumulative Contribution | -40.9% |
Market Drivers
3/31/2025 to 4/13/2026| Return | Correlation | |
|---|---|---|
| SNAP | -40.9% | |
| Market (SPY) | 16.3% | 56.4% |
| Sector (XLC) | 20.1% | 51.9% |
Fundamental Drivers
The -54.1% change in SNAP stock from 3/31/2023 to 4/13/2026 was primarily driven by a -61.3% change in the company's P/S Multiple.| (LTM values as of) | 3312023 | 4132026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.21 | 5.15 | -54.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,602 | 5,931 | 28.9% |
| P/S Multiple | 3.8 | 1.5 | -61.3% |
| Shares Outstanding (Mil) | 1,574 | 1,711 | -8.0% |
| Cumulative Contribution | -54.1% |
Market Drivers
3/31/2023 to 4/13/2026| Return | Correlation | |
|---|---|---|
| SNAP | -54.1% | |
| Market (SPY) | 63.3% | 44.6% |
| Sector (XLC) | 104.0% | 44.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SNAP Return | -6% | -81% | 89% | -36% | -25% | -40% | -90% |
| Peers Return | 16% | -43% | 87% | 31% | 17% | -7% | 77% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 81% |
Monthly Win Rates [3] | |||||||
| SNAP Win Rate | 58% | 33% | 58% | 42% | 58% | 25% | |
| Peers Win Rate | 58% | 30% | 77% | 62% | 53% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| SNAP Max Drawdown | -11% | -83% | -12% | -51% | -35% | -51% | |
| Peers Max Drawdown | -16% | -50% | -4% | -10% | -22% | -19% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: META, GOOGL, PINS, AMZN, AAPL. See SNAP Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/13/2026 (YTD)
How Low Can It Go
| Event | SNAP | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -90.7% | -25.4% |
| % Gain to Breakeven | 971.0% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -56.5% | -33.9% |
| % Gain to Breakeven | 130.0% | 51.3% |
| Time to Breakeven | 75 days | 148 days |
| 2018 Correction | ||
| % Loss | -81.6% | -19.8% |
| % Gain to Breakeven | 442.9% | 24.7% |
| Time to Breakeven | 654 days | 120 days |
Compare to META, GOOGL, PINS, AMZN, AAPL
In The Past
Snap's stock fell -90.7% during the 2022 Inflation Shock from a high on 9/24/2021. A -90.7% loss requires a 971.0% gain to breakeven.
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About Snap (SNAP)
AI Analysis | Feedback
- Instagram for ephemeral visual communication and augmented reality.
- A camera-first social app, like a more playful and interactive version of Instagram.
AI Analysis | Feedback
- Snapchat App: A camera application enabling visual communication through short videos and images via features like Camera, Communication, Snap Map, Stories, and Spotlight.
- Spectacles: Eyewear that captures photos and videos from a human perspective, designed to connect with the Snapchat app.
- Advertising Products: Various advertising formats, including AR ads and Snap ads (single image/video, story, collection, dynamic, and commercials), offered on the Snapchat platform.
AI Analysis | Feedback
Snap Inc. primarily generates revenue from advertising on its Snapchat platform. Therefore, its major customers are other companies (advertisers) rather than individuals. While specific names of major advertisers are generally proprietary and not publicly disclosed due to the highly diversified nature of advertising revenue, Snap serves a broad and diverse customer base across various industries. These customers can be categorized as follows:
-
Large Brands and Corporations: These include major companies in sectors such as consumer packaged goods (CPG), entertainment, fashion, automotive, and technology. They leverage Snapchat's reach to younger demographics for brand awareness campaigns, product launches, and to engage with their target audience through various ad formats, including augmented reality (AR) experiences.
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Small and Medium-sized Businesses (SMBs): A significant portion of Snap's advertising revenue also comes from smaller businesses that utilize Snapchat's self-serve advertising tools. These businesses use the platform for local marketing, driving online sales, and reaching specific customer segments without requiring large advertising budgets.
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App Developers and E-commerce Companies: Companies focused on mobile app installs, user acquisition, and direct-response e-commerce sales are major customers. They use Snapchat's performance advertising solutions to drive measurable outcomes such as app downloads, website visits, and purchases.
AI Analysis | Feedback
- Alphabet Inc. (GOOGL)
- Amazon.com, Inc. (AMZN)
AI Analysis | Feedback
Evan Spiegel, Chief Executive Officer
Evan Spiegel is the co-founder of Snap Inc. and has served as its Chief Executive Officer and a member of its board of directors since May 2012. Prior to Snap Inc., Mr. Spiegel co-founded a failed startup called Future Freshman with Bobby Murphy. He has served on the board of directors of KKR & Co., Inc. since October 2021.
Derek Andersen, Chief Financial Officer
Derek Andersen has served as Chief Financial Officer of Snap Inc. since May 2019, and previously as Vice President of Finance since July 2018. Before joining Snap, Mr. Andersen was employed at Amazon.com, Inc. from March 2011 to June 2018, where he held various finance leadership roles, most recently as Vice President of Finance supporting Amazon's digital video business. He also held roles at Fox Interactive Media, including Senior Vice President, Finance and Business Operations for IGN, and Vice President, Finance.
Robert Murphy, Chief Technology Officer
Robert Murphy is the co-founder of Snap Inc. and has served as its Chief Technology Officer and a member of its board of directors since May 2012. Before co-founding Snap Inc. (originally Snapchat Inc.), Mr. Murphy worked with Evan Spiegel on a failed startup called Future Freshman. After graduating from Stanford, he worked as a software engineer at Revel Systems.
Julie Henderson, Chief Communications Officer
Julie Henderson has served as Snap Inc.'s Chief Communications Officer since April 2019. From July 2013 to April 2019, Ms. Henderson served as Executive Vice President, Chief Communications Officer at Twenty-First Century Fox, Inc. Her prior experience also includes roles at News Corporation, where she served as Senior Vice President, Corporate Affairs and Chief Communications Officer, and Senior Vice President, Communications and Corporate Strategy.
Ajit Mohan, Chief Business Officer
Ajit Mohan has served as Snap Inc.'s Chief Business Officer since February 2025, having previously been the President of APAC for the company from January 2023 to February 2025. Before joining Snap, Mr. Mohan served as Vice President and Managing Director of India for Meta from 2019 to November 2022. From April 2016 to December 2018, he was the CEO of 21st Century Fox's digital streaming service, Hotstar.
AI Analysis | Feedback
The key risks to Snap Inc.'s business are:- Intense Competition and User Engagement Challenges: Snap Inc. operates in a highly competitive social media landscape, contending with major platforms like Meta (Facebook, Instagram) and TikTok. This intense competition directly impacts Snap's ability to attract and retain users, especially in lucrative markets such as North America, where user engagement and time spent on Snapchat have shown declines. The competitive pressure can erode Snap's user base, reduce engagement levels, and consequently affect its market share and advertising appeal.
- Heavy Reliance on Advertising Revenue and Persistent Profitability Challenges: Approximately 99% of Snap Inc.'s revenue is derived from advertising. This heavy reliance makes the company vulnerable to fluctuations in overall advertising demand, macroeconomic uncertainties, and changes in privacy regulations that affect ad targeting and measurement effectiveness. Despite growing its user base, Snap has struggled to achieve consistent GAAP profitability, often reporting net losses. The company faces challenges in effectively monetizing its user base, with flat global Average Revenue Per User (ARPU) and weak margins, raising concerns about the efficiency and long-term viability of its growth-dependent business model.
- Increasing Regulatory and Legal Scrutiny: Snap Inc. is subject to growing regulatory and legal risks, particularly concerning data privacy, user safety, and content moderation, especially regarding minors. This includes evolving privacy laws, calls for stricter age restrictions on social media platforms in regions like the UK and Germany, and lawsuits alleging issues such as parental deception about content safety and the addictive qualities of the app. The company has also received preliminary enforcement notices related to potential failures in assessing privacy risks posed by its generative AI chatbot, My AI, indicating a heightened regulatory focus on innovative features. Such regulatory and legal challenges can lead to increased operational costs, restrictions on business practices, and reputational damage.
AI Analysis | Feedback
The emergence and increasing sophistication of advanced augmented reality (AR) and spatial computing platforms, exemplified by devices like Apple's Vision Pro. This new category of hardware and software could fundamentally shift how users interact with digital content, communicate visually, and experience augmented reality. While Snap has been a pioneer in mobile AR and offers Spectacles, these emerging platforms could offer a more immersive, integrated, and potentially superior AR experience, diminishing the relevance of Snap's app-based AR features and its current hardware offerings over the long term. This parallels historical disruptions where new technological platforms eclipsed established product categories.
AI Analysis | Feedback
Snap Inc. (SNAP) operates within significant and growing addressable markets for its main products and services, primarily driven by its advertising offerings on the Snapchat platform.
The key addressable markets for Snap Inc. include:
- Mobile Advertising Market: Globally, the mobile advertising market was valued at approximately USD 262.84 billion in 2025 and is projected to increase to USD 1,266.57 billion by 2034.
- Social Media Advertising Market: The global social media advertising market is estimated at USD 202.63 billion in 2025 and is forecasted to grow to USD 376.92 billion by 2030. North America held the largest share of this market in 2025.
- Augmented Reality (AR) Advertising Market: The augmented reality advertising market is a rapidly expanding segment. Globally, it is estimated to reach approximately USD 5.8 billion in 2025 and is expected to grow to around USD 8.0 billion by 2029. North America was the largest market share holder in the augmented reality in marketing market in both 2024 and 2025.
While Snap Inc. also offers Spectacles, an eyewear product, advertising sales remain the primary revenue source for the company. The broader global augmented reality (AR) market, which includes AR hardware like Spectacles, is projected to reach around USD 149.57 billion by 2025 and approximately USD 207.16 billion by the end of 2026. The U.S. augmented reality market alone is expected to reach USD 37.91 billion as of 2025.
AI Analysis | Feedback
Snap Inc. (SNAP) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Growth in Advertising Revenue: Snap continues to focus on enhancing its advertising platform, with particular emphasis on direct response (DR) advertising and growth from small and medium-sized businesses (SMBs). This includes improvements in product and measurement capabilities, as well as the adoption of higher-margin ad formats such as Sponsored Snaps and Promoted Places. The company is also leveraging AI-driven enhancements to improve campaign performance and advertiser results.
- Expansion of Subscription Services: A significant driver of revenue diversification is the rapid growth of Snap's subscription products, notably Snapchat+ and Memory Storage Plans. These services saw a 71% year-over-year increase in subscribers to 24 million in Q4 2025, providing a material and growing revenue stream through new features and improved retention rates.
- Development and Monetization of Augmented Reality (AR) and New Hardware: Snap is heavily investing in Augmented Reality (AR) as a major computing shift. The upcoming launch of new Specs AR glasses in 2026 is anticipated to tap into rising demand for AR, creating new monetization channels and expanding the business beyond the core Snapchat application. AR is already a key driver of community growth and engagement within Snapchat.
- Community Growth and Engagement: Snap's long-term strategy includes expanding its global community to reach over 1 billion people. While daily active users (DAU) saw a slight decline in Q4 2025 due to reduced marketing spend, the company is focused on growing monthly active users (MAU) and deepening engagement through features like Spotlight and Snap Map. Investments in machine learning infrastructure are also aimed at providing better content personalization, which can enhance user retention and engagement.
AI Analysis | Feedback
Share Repurchases
- Snap Inc. authorized a stock repurchase program of up to $500 million of its Class A common stock in February 2026, primarily to offset dilution from restricted stock units issued to employees.
- A similar $500 million stock repurchase program was authorized in October 2023.
- Annual share repurchases were $750.866 million in 2025, $311.069 million in 2024, and $189.394 million in 2023.
Share Issuance
- Share repurchase programs aim to offset dilution related to the issuance of restricted stock units to employees as part of the overall compensation program.
- The company may issue additional shares to satisfy equity-related tax obligations.
Capital Expenditures
- Snap's capital expenditures averaged $164.9 million from fiscal years ending December 2021 to 2025, peaking at $219 million in 2025.
- Capital expenditures were $69.875 million in 2021, $129.3 million in 2022, $211.7 million in 2023, $194.8 million in 2024, and $219 million in 2025.
- The company primarily uses third-party infrastructure partners, meaning its capital expenditures are not significantly tied to supporting revenue-generating activities, with investments focusing on augmented reality and AI-driven product innovation.
Latest Trefis Analyses
Trade Ideas
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|---|---|---|---|---|---|---|---|
| 03272026 | META | Meta Platforms | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | 8.8% | 8.8% | 0.0% |
| 03062026 | CARG | CarGurus | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 1.2% | 1.2% | -8.3% |
| 02132026 | YELP | Yelp | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 17.9% | 17.9% | -5.7% |
| 02132026 | TRIP | Tripadvisor | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 10.9% | 10.9% | -3.9% |
| 02062026 | OMC | Omnicom | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 8.9% | 8.9% | -3.7% |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 249.54 |
| Mkt Cap | 2,085.4 |
| Rev LTM | 301,901 |
| Op Inc LTM | 81,626 |
| FCF LTM | 26,902 |
| FCF 3Y Avg | 36,173 |
| CFO LTM | 125,636 |
| CFO 3Y Avg | 103,096 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.7% |
| Rev Chg 3Y Avg | 12.1% |
| Rev Chg Q | 15.0% |
| QoQ Delta Rev Chg LTM | 4.3% |
| Op Mgn LTM | 21.6% |
| Op Mgn 3Y Avg | 20.0% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 30.8% |
| CFO/Rev 3Y Avg | 27.6% |
| FCF/Rev LTM | 20.6% |
| FCF/Rev 3Y Avg | 22.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2,085.4 |
| P/S | 5.8 |
| P/EBIT | 25.1 |
| P/E | 29.1 |
| P/CFO | 16.1 |
| Total Yield | 3.5% |
| Dividend Yield | 0.1% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.0 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 5.0% |
| 3M Rtn | -2.9% |
| 6M Rtn | -3.2% |
| 12M Rtn | 23.4% |
| 3Y Rtn | 96.6% |
| 1M Excs Rtn | 0.4% |
| 3M Excs Rtn | -1.7% |
| 6M Excs Rtn | -7.8% |
| 12M Excs Rtn | -9.1% |
| 3Y Excs Rtn | 30.6% |
Price Behavior
| Market Price | $5.15 | |
| Market Cap ($ Bil) | 8.8 | |
| First Trading Date | 03/02/2017 | |
| Distance from 52W High | -50.2% | |
| 50 Days | 200 Days | |
| DMA Price | $4.97 | $7.30 |
| DMA Trend | down | down |
| Distance from DMA | 3.7% | -29.4% |
| 3M | 1YR | |
| Volatility | 65.3% | 56.2% |
| Downside Capture | 1.45 | 0.93 |
| Upside Capture | 90.85 | 79.34 |
| Correlation (SPY) | 46.9% | 40.8% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.59 | 2.66 | 2.40 | 1.94 | 1.77 | 1.79 |
| Up Beta | 0.77 | 1.53 | 1.54 | 1.17 | 2.14 | 2.06 |
| Down Beta | 1.92 | 2.74 | 2.21 | 2.30 | 1.56 | 1.81 |
| Up Capture | 185% | 120% | 118% | 97% | 89% | 181% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 7 | 16 | 23 | 51 | 112 | 365 |
| Down Capture | 288% | 314% | 292% | 206% | 148% | 112% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 15 | 26 | 39 | 71 | 135 | 373 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SNAP | |
|---|---|---|---|---|
| SNAP | -40.5% | 57.1% | -0.70 | - |
| Sector ETF (XLC) | 23.7% | 14.3% | 1.26 | 43.0% |
| Equity (SPY) | 18.7% | 13.7% | 1.06 | 47.2% |
| Gold (GLD) | 53.7% | 27.6% | 1.55 | 9.7% |
| Commodities (DBC) | 25.2% | 16.2% | 1.37 | 13.2% |
| Real Estate (VNQ) | 14.8% | 14.0% | 0.76 | 23.7% |
| Bitcoin (BTCUSD) | -11.7% | 43.0% | -0.17 | 35.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SNAP | |
|---|---|---|---|---|
| SNAP | -37.9% | 75.8% | -0.28 | - |
| Sector ETF (XLC) | 9.5% | 20.7% | 0.37 | 51.7% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 44.7% |
| Gold (GLD) | 21.8% | 17.8% | 1.01 | 4.9% |
| Commodities (DBC) | 11.7% | 18.8% | 0.51 | 9.7% |
| Real Estate (VNQ) | 3.7% | 18.8% | 0.10 | 27.9% |
| Bitcoin (BTCUSD) | 4.6% | 56.6% | 0.30 | 24.6% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with SNAP | |
|---|---|---|---|---|
| SNAP | -14.3% | 72.1% | 0.09 | - |
| Sector ETF (XLC) | 9.5% | 22.3% | 0.50 | 48.5% |
| Equity (SPY) | 13.9% | 17.9% | 0.67 | 38.7% |
| Gold (GLD) | 14.2% | 15.9% | 0.74 | 5.3% |
| Commodities (DBC) | 8.8% | 17.6% | 0.42 | 11.7% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.22 | 25.6% |
| Bitcoin (BTCUSD) | 67.5% | 66.9% | 1.07 | 15.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/4/2026 | -13.4% | -15.6% | -12.7% |
| 11/5/2025 | 9.7% | 24.5% | 10.0% |
| 8/5/2025 | -17.1% | -22.6% | -24.5% |
| 4/29/2025 | -12.4% | -8.0% | -8.9% |
| 2/4/2025 | -8.4% | -6.3% | -17.2% |
| 8/1/2024 | -26.9% | -30.2% | -27.1% |
| 4/25/2024 | 27.6% | 43.0% | 33.5% |
| 2/6/2024 | -34.6% | -36.2% | -32.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 7 |
| # Negative | 14 | 13 | 16 |
| Median Positive | 23.8% | 21.7% | 26.8% |
| Median Negative | -15.6% | -15.6% | -15.0% |
| Max Positive | 58.8% | 65.8% | 46.5% |
| Max Negative | -39.1% | -40.9% | -32.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/05/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/05/2025 | 10-K |
| 09/30/2024 | 10/30/2024 | 10-Q |
| 06/30/2024 | 08/02/2024 | 10-Q |
| 03/31/2024 | 04/26/2024 | 10-Q |
| 12/31/2023 | 02/07/2024 | 10-K |
| 09/30/2023 | 10/25/2023 | 10-Q |
| 06/30/2023 | 07/26/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/01/2023 | 10-K |
| 09/30/2022 | 10/21/2022 | 10-Q |
| 06/30/2022 | 07/22/2022 | 10-Q |
| 03/31/2022 | 04/22/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Spiegel, Evan | Chief Executive Officer | Direct | Sell | 1072026 | 8.25 | 1,220,165 | 10,066,361 | 213,273,654 | Form |
| 2 | Spiegel, Evan | Chief Executive Officer | Direct | Sell | 1022026 | 8.00 | 1,258,850 | 10,072,059 | 222,622,544 | Form |
| 3 | Morrow, Rebecca | Chief Accounting Officer | Direct | Sell | 12172025 | 7.33 | 7,000 | 51,310 | 3,592,096 | Form |
| 4 | Morrow, Rebecca | Chief Accounting Officer | Direct | Sell | 12172025 | 7.22 | 3,090 | 22,304 | 3,514,906 | Form |
| 5 | Morrow, Rebecca | Chief Accounting Officer | Direct | Sell | 12172025 | 7.34 | 3,783 | 27,767 | 3,546,549 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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