Snap Inc. Announces Fourth Quarter and Full Year 2023 Financial Results

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 $15 at Piper Sandler

Piper Sandler analyst Thomas Champion lowered the price target on Snap Inc (NYSE: SNAP) to $15.00 (from $17.00) while maintaining a Neutral rating.

The analyst comments "Shares were down significantly AH as EBITDA was above Street expectations but revenue at 5% (flat with 3Q) was... 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 gets Snipped': SNAP crashes 30% on higher-than-expected loss for Q1

(Updated - February 7, 2024 6:40 AM EST)

Snap Inc.s (NYSE: SNAP) shares nosedived 31% in pre-market Wednesday trading after the social media company missed revenue expectations in Q4 and forecasted a wider-than-expected EBITDA loss for the March quarter.

For Q4, the social media company posted adjusted earnings per share (EPS) of 8c, compared to 14c in the year-ago period and the 6.4c expected by analysts. Revenue came in at $1.36 billion, up 4.7% year-over-year but below the consensus estimates of $1.38 billion.

The companys revenue in the North America... More

Snap (SNAP) Tops Q4 EPS by 25c, Revenue Misses, Offers Guidance

Snap (NYSE: SNAP) reported Q4 EPS of $0.08, $0.25 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $1.36 billion versus the consensus estimate of $1.38 billion.

GUIDANCE:

Snap sees Q1 2024 revenue of $1.1-1.14 billion, versus the... More