5 Best Beaten Down Stocks to Buy Now

3. Snap Inc. (NYSE:SNAP)

Number of Hedge Fund Holders: 54

Year-to-Date Price Share Decline as of August 1: 78.8%

Date of Snap Inc. (NYSE:SNAP) hitting a 52-week low: July 28

Snap Inc. (NYSE:SNAP) is a communication services company operating one of the most popular social media platforms in the world, Snapchat. The company is based in Santa Monica, California.

 A Market Perform rating was reiterated on Snap Inc. (NYSE:SNAP) shares as of this July by MoffettNathanson’s Michael Nathanson.

Brent Thill, an analyst at Jefferies, continues to hold a Buy rating on Snap Inc. (NYSE:SNAP) shares as of the same month, alongside a price target of $20. The analyst also expects revenue growths of 14% and 19% in the financial years of 2022 and 2023 respectively, making the stock seem more tempting among the 52-week low stocks.

Snap Inc. (NYSE:SNAP) had 54 hedge funds long in its stock in the first quarter, with a total stake value of $2.7 billion. In the previous quarter, 55 hedge funds were long the stock, with a total stake value of $4.2 billion.