BofA Securities Reiterates Neutral Rating on Snap Inc (SNAP)

BofA Securities analyst Naved Khan reiterated a Neutral rating and $14.00 price target on Snap Inc (NYSE: SNAP).

The analyst comments "We roll forward our valuation basis to 2026 and maintain our PO at $14 based on revised 2026 rev. of $6.7bn and a lower 3.8x multiple (vs 4.2x previously) given expectations for slightly lower growth. Our PO represents 27x our revised 2026 EBITDA est. We acknowledge that an upside driver of stock may be the TikTok ban outcome, which we view as only partially discounted in the stock price. On fundamentals, we reiterate our Neutral rating given: (1) limited user growth in high value US/EU markets; (2) slowing Snapchat+ subs growth; (3) near-term uncertainty on app transition; and (4) ad growth below that of peers. At ~$12.5, Snap stock is valued at 23x our revised ‘26 EBITDA, and 29x our 2026 FCF, a premium to peers."

For an analyst ratings summary and ratings history on Snap Inc click here. For more ratings news on Snap Inc click here.

Shares of Snap Inc closed at $12.55 yesterday.

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