Snap Stock Skyrockets After First-Ever Quarterly Net Profit

A deluge of bull and bear notes poured in as a result

Deputy Editor
Feb 4, 2022 at 10:29 AM
facebook X logo linkedin


The shares of Snap Inc (NYSE:SNAP) are skyrocketing today, last seen up 49.2% to trade at $36.55, following the company's upbeat report. The Snapchat parent announced fourth-quarter earnings of 22 cents, which was more than double Wall Street's estimates, alongside better-than-expected revenue and user growth -- marking its first-ever quarterly net profit. Plus, the social media name issued an optimistic current-quarter forecast. As a result, Snap stock was able to buck the sector pullback stemming from Meta Platforms' (FB) dismal earnings report.

The stock has received plenty of analyst attention after the results. While BofA Global Research upgraded SNAP to "buy" from "neutral," RBC downgraded the stock to "sector perform" from "outperform." Elsewhere, no fewer than eight firms chimed in with price-target hikes, while four slashed their price objectives. 

Options traders are ramping up their activity today, too. So far, 385,000 calls and 259,000 puts have exchanged hands, which is 11 times what's typically seen at this point. Most popular is the weekly 2/4 35-strike put, followed by the weekly 2/4 40-strike call, with new positions being opened at both.

After yesterday dipping to its lowest level since September 2020, Snap stock is headed for its best single-day percentage gain in at least two years. Still, SNAP has had a rough start to 2022, down 23.2% year-to-date, while sitting down 37.5% over the last 12 months. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI