Shares of Snap (NASDAQ:SNAP) plunged in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $0.14, which beat analysts’ consensus estimate of -$0.11 per share. Sales were flat year-over-year, with revenue hitting $1.3 billion. This missed analysts’ expectations of $1.31 billion.
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Snap did not offer guidance for the next period. However, its “internal forecast” revealed an expected revenue decline of between 2% and 10% year-over-year.
Overall, Wall Street has a consensus price target of $11.71 on Snap stock, implying 1.3% upside potential, as indicated by the graphic above.