Hedge fund sentiment analysis shows 60% of tracked positions are long SNAP, reflecting confidence in the current snap stock forecast and anticipated platform monetization tailwinds. Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! In addition, Snap was likely to face overwhelming competition from other social media companies, including Meta (Facebook) (META) with its 2.8 billion users, he said. Meta’s video sharing app Instagram could substitute Snapchat, while ByteDance’s TikTok is another formidable Snap competitor. Institutional flows into SNAP have picked up this month, with hedge funds adding positions ahead of the Q3 earnings. Forecast models suggest that Snap’s DAU growth could maintain a 6-8% range in the next two quarters, supporting valuation expansion if ad CPMs trend higher.
