Shares of Snap (NYSE:SNAP) stock are climbing on Wednesday morning after the company held its 2021 Investor Day virtually on Tuesday.
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Members of the camera company highlighted some recent high points for the firm and presented exciting plans for its future. That said, Wall Street has reacted well since its release, as SNAP stock is up about 22% just since 1 p.m. Eastern on Feb. 23.
What were some of the important items discussed at Snap Investor Day? Here are some of the key takeaways:
- One of the main talking points from the presentation came from Snap’s senior director of ad products Peter Sellis.
- “Via the work on our self-serve ad platform, we’re in a position to drive multiple years of 50% plus revenue growth,” he said.
- This is major news, especially with analysts expecting sales growth of just 37.7% in 2022.
- Additionally, the firm discussed its incredible audience.
- This includes an average of 265 million people around the world using Snapchat every day.
- In five major countries including the U.S., Snap reaches 90% of 13-24 year olds and 75% of 13-34 year olds.
- However, the company also highlighted that 80% of its reach is to users above the age of 18.
- Overall, Snap believes that “Gen Z and Millennials are powerful, wielding $1 trillion in purchasing power, and making up over 40 percent of global consumers.”
- Furthermore, Snap also touched on other important topics in its presentation.
- This includes subjects such as the firm’s focus on growth and profitability, market penetration and expanding its ad functionality.
SNAP stock was up 2.1% as of Wednesday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick Clarkson is a web editor at InvestorPlace.
