Are These The Best Social Media Stocks To Buy?

Investors were not all that happy when Meta Platforms (NASDAQ: FB) reported its quarterly results this past week. Unless you have been living under a rock, you would know that FB stock lost a quarter of its value earlier this week, taking the whole market with it. With so many uncertainties in the stock market today, any slight underperformance would naturally translate into volatility. And that’s what we’ve seen with social media stocks this week. 

Even though there’s a big market opportunity in this space, investing in social media stocks is never straightforward. This holds true even for the promising stocks out there. Nevertheless, it would not be surprising if some investors may be looking to buy the dip. After all, social media remains to be an important part of our daily lives. Of course, newer social media apps may displace older ones from time to time. But it is likely that the industry will continue to thrive moving forward. Hence, it is no surprise that many investors continue to take note of top social media stocks this earnings season.  

Take Match Group (NASDAQ: MTCH) for example. Briefly, the company owns and operates the largest portfolio of online dating services which includes the likes of Tinder and OkCupid to name a few. Earlier this week, the company posted healthy revenue growth in its latest quarterly update and provided a positive outlook for the year. With all that in mind, do you have a list of top social media stocks to buy in the stock market today?

Top Social Media Stock To Buy [Or Avoid] This February 2022


Snap is a camera company as well as a social media company. The company’s flagship product is Snapchat, a social media camera application. The app is wildly popular among the younger generation as a tool for communicating short videos and images, otherwise known as a Snap. Supporting Snapchat, the company also develops and supplements Spectacles and Bitmoji. On one hand, 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. 

top tech stocks to watch (SNAP stock)

Snap reported its fourth-quarter earnings on Thursday that beat analyst estimates across earnings, revenue, and user growth. For starters, revenue came in at $1.3 billion, an impressive 42% increase compared to the prior year. Net income for the quarter came in at $23 million, marking Snap’s first profitable quarter as a public company.

Accordingly, adjusted earnings per share were $0.22, beating analyst estimates of $0.10. Financials aside, DAUs were 319 million, an increase of 54 million, or 20% year-over-year. Notably, year-over-year growth in DAUs has been 20% or more for five consecutive quarters. Given the strong results, will you be buying SNAP stock?

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Pinterest operates primarily as an image-sharing and social media service. Its key platform feature is its ‘pinboards’. The likes of which serve to distinguish Pinterest from its social media competitors. Through these pinboards, users can save, design, share, and discover new ideas and concepts across the internet in picture form. Ultimately, all this comes together to help users conceptualize ideas and projects. With over 400 million monthly active users as well as an impressive advertising system, I can see why investors might be interested in PINS stock.

best social media stocks to buy now (PINS stock)

Like Snap, Pinterest announced its earnings after the closing bell on Thursday as well. Diving in, revenue grew by 20% year-over-year to $847 million from $705 million. Net income for the quarter came in at $175 million. Accordingly, earnings per share were $0.49, beating estimates of $0.45.

What’s more, the company expects first-quarter revenue to grow in the high teens percentage range year-over-year. Going forward, Pinterest plans to further invest in its business to enhance its core user experience. With that being said, should PINS stock be pinned to your watchlist?

Digital World Acquisition Corp

Digital World Acquisition Corp (DWAC) was only recently brought into the limelight after an announcement last year in October that it will be merging with former President Donald Trump’s Trump Media & Technology Group (TMTG).

DWAC stock chart

But for the most part, DWAC is a blank check company. Upon the news, DWAC stock skyrocketed to unprecedented levels as TMTG revealed plans to make a new social media platform named “Truth Social”. After a while, the hype died down and DWAC stock plummeted.

However, early last month, DWAC set a target launch date for Truth Social. Accordingly, the app has set a target launch date of February 21. Since the announcement, DWAC stock has risen over 40% in the past month. Truth Social aims to be an alternative to social media titans such as Twitter and Facebook. With that in mind, will you be watching DWAC stock?

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Closing us off for today is Twitter. In short, the social media giant primarily operates through its platform of the same name. On this platform, Twitter offers microblogging and social networking services. Namely, Twitter provides users with an almost instant connection to news around the world. Furthermore, users can post on the platform almost instantly. As such, real-world happenings often trend on the platform. Most of the company’s social media counterparts have posted their quarterly earnings, and all eyes are on Twitter ahead of its earnings release on February 10. 

best social media stocks to buy (TWTR stock)

For its third quarter, revenue rose by 37% from a year ago to $1.28. The company said that it had largely sidestepped the effects from the privacy changes that Apple enacted, which hurt mobile advertising. Twitter expects its fourth-quarter revenue to range from $1.5 billion to $1.6 billion.

Recently, the company also completed the sale of mobile ad platform MoPub to AppLovin (NASDAQ: APP) for $1.05 billion in cash. This will allow Twitter to concentrate its effort on its core offerings. As investors wait in anticipation for the earnings release next week, will you be eyeing TWTR stock?

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