Additionally, SNAP’s revenue per share (RPS) is likely to improve to $3.53, which coupled with a P/S multiple of 11x will lead to the valuation of $39. Snap’s stock (NYSE: SNAP) has lost approximately 71% YTD as compared to the 20% drop in the S&P500 index over the same period. While the record-high inflation numbers, interest rate hikes, and geopolitical tensions over the recent months impacted the stock market negatively, SNAP stock further struggled due to a lower-than-expected earnings outlook.