Like many other technology companies, social media company Snap Inc. (SNAP) has struggled this year. The stock has declined 78.1% in price year-to-date and 79.6% over the past year to close the last trading session at $10.32. It is trading 81.2% below its 52-week high of $54.89, which it hit on December 9, 2021.
Although the company beat the consensus EPS estimate in the third quarter, its quarterly revenue came 0.9% below analyst estimates. It was also the first time since its listing in 2017 that the company has reported a single-digit rise in revenues.
