Snap (SNAP) to lay off 10% of global full-time workforce

Snap Inc (SNAP) PT Lowered to $14 at UBS

UBS analyst Lloyd Walmsley lowered the price target on Snap Inc (NYSE: SNAP) to $14.00 (from $17.00) while maintaining a Neutral rating.

The analyst comments "We decrease our 2024E rev/Adj EBITDA by 2%/$28M to $5.27B/$442M reflecting slower-than-expected 4Q23 rev growth (5% YOY vs... More

Snap Inc (SNAP) PT Lowered to $14 at Citi

Citi analyst Ronald Josey lowered the price target on Snap Inc (NYSE: SNAP) to $14.00 (from $18.00) while maintaining a Neutral rating.

The analyst comments "Although Snap delivered mixed 4Q23 results with lower-than-expected 1Q guidance, we were encouraged with improving engagement as MAUs reached... More

Snap Inc (SNAP) PT Lowered to $17 at Jefferies

Jefferies analyst James Heaney lowered the price target on Snap Inc (NYSE: SNAP) to $17.00 (from $22.00) while maintaining a Buy rating.

The analyst comments "Q4 results were dissapointing with 5% y/y rev growth well below the elevated buyside bogey. However, the... More

Snap Inc (SNAP) PT Lowered to $14 at Canaccord Genuity

Canaccord Genuity analyst Maria Ripps lowered the price target on Snap Inc (NYSE: SNAP) to $14.00 (from $17.00) while maintaining a Hold rating.

The analyst comments "Snap reported mixed Q4 results, with DAUs coming in ahead of expectations but revenue slightly below consensus and growth decelerating sequentially despite an easier comp, although the... More

Snap Inc (SNAP) PT Lowered to $13 at RBC Capital

RBC Capital analyst Brad Erickson lowered the price target on Snap Inc (NYSE: SNAP) to $13.00 (from $17.00) while maintaining a Sector Perform rating.

The analyst comments "SNAP beat Q4 but missed elevated buy-side expectations for its Q1 outlook where to us,... More

Snap Inc (SNAP) PT Lowered to $15 at Guggenheim

Guggenheim analyst Michael Morris lowered the price target on Snap Inc (NYSE: SNAP) to $15.00 (from $23.00) while maintaining a Buy rating.

The analyst comments "Snap management again provided numerous positive metrics (90% growth in purchase related conversions, 20% growth in SMB customers, improving depth of engagement with... More

Snap Inc (SNAP) PT Lowered to $16 at BofA Securities

BofA Securities analyst Justin Post lowered the price target on Snap Inc (NYSE: SNAP) to $16.00 (from $18.00) while maintaining a Neutral rating.

The analyst comments "4Q Rev/EBITDA at $1,361mn/$159mn was mixed vs Street at $1,385mn/$116mn. 4Q growth at 5% was... More

Snap Inc (SNAP) PT Lowered to $20 at BMO Capital

BMO Capital analyst Brian J. Pitz lowered the price target on Snap Inc (NYSE: SNAP) to $20.00 (from $22.00) while maintaining a Outperform rating.

The analyst comments "Significant aftermarket price decline is likely an overreaction to 1) flattish Q/Q NA DAUs, 2) overly bullish buyside... More

Snap Inc (SNAP) PT Lowered to $15 at Raymond James

Raymond James analyst Aaron Kessler lowered the price target on Snap Inc (NYSE: SNAP) to $15.00 (from $20.00) while maintaining a Outperform rating.

The analyst comments "SNAP missed revenue Street expectations by 1.7% largely impacted by a 2% geopolitical headwind that we had assumed faded with results... More

Snap (SNAP) to reduce global headcount by approximately 10%

Snap (NYSE: SNAP) disclosed:

On February 5, 2024, we announced a plan to reduce our global headcount by approximately 10% of our global full time employees. In order to best position our business to execute on our highest priorities, and to ensure we have the... More

Snap (SNAP) February weekly 17 straddle into quarter results

Snap (NYSE: SNAP) February weekly 17 straddle priced for a move of 16% into the expected release of quarter results after the bell on February 6.

After-hours movers: Amazon, Apple, Meta

After-Hours Stock Movers:

Amazon (NASDAQ: AMZN) stock rose 8.8% after it reported better than expected earnings per share and revenue in the fourth quarter. Amazon also issued a decent forecast for the first quarter of 2024.

Meta Platforms (NASDAQ: META) stock rose 15% after its... More