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SNAP – Market expectations are for Uniform ROA to expand, and management is confident in platform usage, their ad strategy, and demo reach

July 22, 2020

  • Snap Inc. (SNAP:USA) currently trades near historical highs relative to Uniform assets, with a 12.9x Uniform P/B. At these levels, markets have bullish expectations for the firm, and management is confident about platform usage and their success reaching the 13-24 demographic, and their current ad strategy

  • Specifically, management is confident in their improved engagement and usage of the app during the pandemic, as well as improvements in their Discover page stemming from improved editorial selectivity. They are also confident in their relationship with direct response advertisers. Moreover, they are also confident in their success in reaching the 13-24 demographic, their ability to help users discover new brands through ads, and with the optimization of their ad platform. Additionally, they are confident in expectations for increased advertiser investment and the success of their augmented reality platform in driving donations for coronavirus relief

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