The best social media stocks to buy now? 4 to watch this week

Over the past two decades, social media has exploded in popularity, with billions of active users worldwide. This rapid growth is said to be due to the convenience it brings to its users by staying connected with each other. Additionally, the industry continues to innovate, bringing new features to connect and entertain users in new ways. At the same time, social media actions continue to get a lot of attention today. A great example would be You’re here (NASDAQ: TSLA) CEO Elon Musk’s purchase of Twitter (NYSE: TWTR). The likes of who would make waves in the stock market today on news from Musk”temporarily,” put the case on hold.

Also, another notable social media stock that most investors are familiar with is Metaplatforms (NASDAQ: FB). Typically, social media companies derive most of their revenue from advertising. And in Meta’s latest earnings release, it brought in $27 billion in ad revenue, up 6.1% year-over-year. In other news, Meta and AMD (NASDAQ: AMD) announced on Wednesday that they will partner to develop a mobile internet infrastructure program. The program aims in particular to reduce the costs of base stations for cellular network operators. This, in turn, would make broadband more accessible around the world. That being said, check out these four social media stocks trading this week.


Kicking off our list today is Bumblebee, the parent company of online dating apps such as Bumble, Badoo and Fruitz. The company aims to help users connect and build healthy relationships on their own. The Bumble app is one of the most popular dating apps in the United States, with a monthly user base of around 42 million. On Wednesday, the company released its first quarter 2022 results which beat analysts’ estimates. For starters, the company reported an increase in revenue from $170.7 million to $211.2 million, a 23.7% year-over-year increase.

The bulk of its revenue came from its Bumble app, which grew 38% to $155.4 million. Apart from that, the company reported net income of $23.9 million, or $0.13 per share. During the last quarter, Bumble also saw its total number of paid users increase to 3.0 million, from 2.8 million a year ago. As a result, its average total revenue per paying user (ARPPU) increased to $22.76 from $19.99 the previous year. In its press release, the company expects its second quarter 2022 revenue to be between $218 million and $221 million. Overall, given the solid increase in paid Bumble users, should you invest in BMBL stock?

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Matching group

Another big name in the social media space right now would be Matching group. Essentially, the company owns and operates the world’s largest portfolio of online dating services. These would include names like Tinder, Match, OkCupid, Hinge, Meetic, Pairs, and other notable names. Match Group also offers its services in more than 40 languages, catering to users around the world. Last week, the company released its first quarter 2022 results.

Diving, the company’s total revenue increased 20% year-over-year to $799 million. In its shareholder letter, Match attributes the increase to strong growth in its payers and revenue per payer (RPP). Namely, its number of payers increased by 13% to 16.3 million, against 14.4 million a year ago. Subsequently, its EPS rose 6% year-over-year to $16. In the same letter, the company provided its revenue outlook for the second quarter of 2022 of $800 million to $810 million, representing a 13% to 14% year-over-year increase. In addition, Match’s board of directors has authorized the repurchase of up to 12.5 million shares. Could this be a wise move given the stock’s recent weakness? And on that note, do you have any MTCH stocks on your watchlist?

MTCH Stock
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pinterest primarily operates as an image sharing and social media service. Its main platform feature is its “billboards”. The likes that serve to distinguish Pinterest from its competitors on social networks. With these bulletin boards, users can save, design, share and discover new ideas and concepts on the Internet in the form of an image. Ultimately, it all comes together to help users conceptualize ideas and projects. With over 400 million monthly active users, I can see why investors might be interested in PINS stocks.

Late last month, the company released its first-quarter 2022 results. Pinterest revenue improved to $575 million, up 18% year-over-year and beating Wall’s estimates. Street of $573 million. Meanwhile, the company significantly reduced its net losses to $5.3 million from $21.6 million in the same period last year. Along with that, adjusted earnings per share was $0.10 instead of the estimated $0.04. Another metric worth noting would be its worldwide average revenue per user (ARPU), which came in at $1.33, up 28% from last year. For comparison, analysts expected an ARPU of $1.31. Given Pinterest’s performance this quarter, is PINS stock a buy?

Brooch stock
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Last, but not least, is Instantaneous. The company identifies itself as a camera company as well as a social media company. Its flagship product is Snapchat, one of the biggest social media platforms around. Apart from Snapchat, the company also develops and complements Spectacles and Bitmoji. For one, Spectacles is an augmented reality (AR) device that works seamlessly with Snapchat, allowing for a more interactive experience. On the other hand, Bitmoji allows users to create their own personalized digital avatars which can be used on Snapchat and other messaging apps.

Snap last month announced its first-quarter 2022 financials. For its first quarter, the company’s revenue increased to $1.06 billion, up 38% year-on-year. other compared to $769.6 million. Even more impressive are its daily active users, which reached 332 million in the last quarter. This represents an increase of 52 million, an increase of 18% over the previous year. According to its press release, Snap estimates second quarter 2022 revenue to grow 20% to 25% year-over-year. Along with this, CEO Evan Spiegel added: “We remain focused on creating value for our growing community, delivering ROI for our advertising partners, and investing in our huge opportunity in augmented reality.“Overall, is SNAP stock one to watch?

SNAP Stock Chart
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