Snap Inc Class A

SNAP: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$45.00	Wzrz	Wflyvfh

Snap’s Top-Line Growth Came to a Standstill in Q4; Recovery Will Take Longer; Lowering FVE to $16

Ali Mogharabi

Feb 1, 2023

Snap reported mixed fourth-quarter 2022 results, as efforts to improve cost efficiencies which began at the end of third-quarter 2022 helped offset modestly weak revenue. The firm also indicated that revenue will likely decline year over year during the current quarter. We have again slashed our fair value estimate to $16 from $27.

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