'Snap gets Snipped': SNAP crashes 30% on higher-than-expected loss for Q1

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

February 7, 2024 7:37 AM EST

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

February 7, 2024 7:19 AM EST

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

February 7, 2024 5:46 AM EST

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

February 7, 2024 5:45 AM EST

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

February 7, 2024 5:45 AM EST

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

February 7, 2024 5:44 AM EST

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

February 7, 2024 5:44 AM EST

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 $12 at Bernstein

February 7, 2024 5:43 AM EST

Bernstein analyst Mark Shmulik lowered the price target on Snap Inc (NYSE: SNAP) to $12.00 (from $14.00) while maintaining a Market Perform rating.... More

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

February 7, 2024 5:42 AM EST

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

February 7, 2024 5:42 AM EST

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

February 7, 2024 5:41 AM EST

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 slumps as ad sales lag larger rivals

February 7, 2024 5:37 AM EST

By Samrhitha A

(Reuters) -Snap slumped more than 32% on Wednesday after fourth-quarter revenue missed Wall Street expectations, with the company struggling to compete for advertising dollars against heavyweights such as Meta and Alphabet.

The Snapchat owner's results are in contrast to strong advertising sales that rivals reported, a sign that advertisers are gravitating towards larger, stable companies amid an uncertain economy.

Snap, whose shares nearly doubled last year, was on track to lose roughly $9.2 billion in... More

Snap Inc (SNAP) PT Raised to $13 at Evercore ISI

February 7, 2024 5:00 AM EST

Evercore ISI analyst Mark Mahaney raised the price target on Snap Inc (NYSE: SNAP) to $13.00 (from $11.00) while maintaining a In Line rating.... More

Snap Inc (SNAP) PT Lowered to $11 at Morgan Stanley, 'Harder Work and Competition Ahead'

February 7, 2024 4:09 AM EST

(Updated - February 7, 2024 5:39 AM EST)

Morgan Stanley analyst Brian Nowak lowered the price target on Snap Inc (NYSE: SNAP) to $11.00 (from $13.00) while maintaining a Underweight rating.

The analyst comments "SNAPs ad turnaround remains slower than expected and engagement weak. Surging... More

Snap misses revenue estimate, shares plunge 30%

February 6, 2024 4:12 PM EST

By Sheila Dang

(Reuters) -Snap missed Wall Street estimates for quarterly revenue on Tuesday, as the Snapchat owner continued to struggle to compete against larger rivals for digital advertising revenue, sending its shares down 30%.

Though its features are often copied by competitors, investors have long questioned Snap's ability to hold its own against tech giants like Facebook owner Meta Platforms and Alphabet, which have more data to target ads.

Meta's advertising sales surged 25% in the December quarter. Google's ad business grew 11% as ad sales from YouTube increased 16% in the same period.

Snap has failed... More

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

February 6, 2024 4:11 PM EST

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