Snap Leverages AI To Boost Snapchat's Appeal: CEO Evan Spiegel's Strategy Unveiled
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 20 2024
0mins
Should l Buy SNAP?
Source: Benzinga
- Snap Inc's Investment in AI and Machine Learning: Snap Inc, the company behind Snapchat, is focusing on enhancing the app's engagement by investing in artificial intelligence and machine learning under CEO Evan Spiegel's leadership.
- Strategic Shift Towards Advanced Technology: Spiegel has organized senior machine learning experts to drive advancements and catch up in this field, following successful transformations in Snapchat's advertising business.
- Positive Financial Results: Recent reports show Snap's revenue growth with quarterly sales up by 21% year-on-year, beating analyst estimates, and quarterly earnings surpassing expectations.
- Optimism and Innovation: Spiegel remains optimistic about Snap's future, emphasizing innovation in augmented reality and advanced technology to improve user interaction and advertising performance.
- Market Performance and Analysts' Views: Snap stock has gained 66% in the last year, with analysts highlighting its potential for long-term growth due to its privacy-focused messaging platform and leadership in augmented reality.
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Analyst Views on SNAP
Wall Street analysts forecast SNAP stock price to rise
28 Analyst Rating
2 Buy
24 Hold
2 Sell
Hold
Current: 4.820
Low
7.00
Averages
9.57
High
13.00
Current: 4.820
Low
7.00
Averages
9.57
High
13.00
About SNAP
Snap Inc. is a technology company. Its flagship product, Snapchat, is a visual messaging application that enhances relationships with friends, family, and the world. Snapchat is the Company's core mobile device application and contains five tabs, complemented by additional tools that function outside the application. Snapchatters can interact with any or all the five tabs. Additionally, it offers Snapchat+, its subscription product that provides subscribers access to exclusive, experimental, and pre-release features. Snapchat+ offers a range of features, from allowing Snapchatters to customize the look and feel of their application, to giving special insights into their friendships. The Company also offers Snapchat for Web, a browser-based product that brings Snapchats calling and messaging capabilities to the Web. Its advertising products include AR Ads and Snap Ads. Snap Ads include Single Image or Video Ads, Story Ads, Collection Ads, Dynamic Ads, Commercials, and Sponsored Snaps.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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