Wells Fargo Slashes Snap Price Target

The transcript discusses Snap's market position, highlighting strong engagement despite macroeconomic challenges. It analyzes Snap's stock price, suggesting that the risk is not to the downside at a target of 27. The impact of the macro environment on social media stocks is considered, with a focus on bottom-of-funnel advertising. The discussion concludes with an investment recommendation to buy Snap at 13.

What is the main reason for Snapchat's strong engagement according to the first section?

• Engagement with close friends

• New advertising strategies

• Company-specific innovations

• Partnerships with TikTok

What is the discussed price target for Snapchat's stock in the second section?

• $27

• $20

• $48

• $13

According to the second section, what percentage of Snapchat's business is direct response advertising?

• 55%

• 45%

• 35%

• 25%

Which company is mentioned as being most exposed to top-of-funnel, branded advertising?

• Facebook

• Twitter

• Pinterest

• Snapchat

Which companies are highlighted as having diversified business models that provide insulation in a recessionary environment?

• Trade Desk and TikTok

• Facebook and Pinterest

• Amazon and Google

• Snapchat and Twitter