Risk/Reward Rating: Negative
Snap Inc. delivered 66% revenue growth in Q1 2021 and projects the trend to continue in Q2 after accounting for Q2 2020 COVID weakness. The revenue growth is a material acceleration from the 45% growth rate in the prior two years. The first quarter of 2021 also marked the first positive cash flow performance in the company’s history as a publicly traded stock. Given the positive trends, the investment decision revolves around the valuation of Snap.
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