Snap (NYSE:SNAP) Price Target Lowered to $6.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase cut its price target on Snap from $7.00 to $6.00 and kept an "underweight" rating, implying almost no upside (~0.6%) from current levels.
• Q1 results showed revenue up ~12% year‑over‑year and adjusted EBITDA more than doubled, but the company missed EPS estimates and issued cautious Q2 revenue assumptions.
• A planned ~$400M AI integration with Perplexity was "amicably ended" and, together with activist/legal scrutiny and recent insider stock sales, increases near‑term execution and governance risk for Snap.

Snap (NYSE:SNAP - Get Free Report) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $7.00 to $6.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 0.59% from the stock's current price.

Other equities analysts have also issued research reports about the company. Roth Mkm set a $7.00 price objective on Snap in a research note on Thursday, February 5th. Piper Sandler restated a "neutral" rating on shares of Snap in a research note on Thursday, February 5th. KeyCorp upgraded Snap from a "sector weight" rating to an "overweight" rating in a research note on Monday, April 27th. TD Cowen assumed coverage on Snap in a research note on Monday, April 27th. They set a "buy" rating on the stock. Finally, Susquehanna lowered their price objective on Snap from $9.00 to $6.50 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twenty-one have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $7.91.

Snap Price Performance

NYSE:SNAP traded down $0.15 during trading hours on Thursday, reaching $5.97. 87,284,199 shares of the company were exchanged, compared to its average volume of 53,486,016. The business has a 50 day moving average of $5.12 and a 200 day moving average of $6.59. Snap has a 1-year low of $3.81 and a 1-year high of $10.41. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The company has a market capitalization of $10.07 billion, a P/E ratio of -22.09 and a beta of 1.05.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.14). Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the business earned ($0.08) EPS. Snap's revenue was up 12.2% on a year-over-year basis. Research analysts forecast that Snap will post -0.12 EPS for the current year.

Insider Transactions at Snap

In other Snap news, CFO Derek Andersen sold 92,956 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $4.59, for a total value of $426,668.04. Following the sale, the chief financial officer owned 3,799,661 shares of the company's stock, valued at approximately $17,440,443.99. This trade represents a 2.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ajit Mohan sold 28,058 shares of the firm's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $6.02, for a total value of $168,909.16. Following the completion of the sale, the insider directly owned 5,102,676 shares in the company, valued at approximately $30,718,109.52. This represents a 0.55% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,565,573 shares of company stock worth $13,329,781. 22.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap

A number of large investors have recently modified their holdings of SNAP. Allworth Financial LP lifted its holdings in Snap by 92.3% during the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company's stock worth $25,000 after buying an additional 1,581 shares during the period. Oak Harvest Investment Services acquired a new position in Snap during the 4th quarter worth about $26,000. Arax Advisory Partners lifted its holdings in Snap by 220.0% during the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company's stock worth $27,000 after buying an additional 2,275 shares during the period. V Square Quantitative Management LLC acquired a new position in Snap during the 4th quarter worth about $29,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Snap by 561.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company's stock worth $29,000 after buying an additional 3,071 shares during the period. Institutional investors and hedge funds own 47.52% of the company's stock.

Key Snap News

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Q1 operational beat — Revenue rose ~12% year‑over‑year and adjusted EBITDA more than doubled, with daily active users returning to growth outside NA/Europe; this supports near‑term ad recovery and margin improvement. SNAP Q1 Revenues & EBITDA
• Positive Sentiment: Analyst upgrade/raise — Wells Fargo nudged its price target up from $6 to $7 (equal weight), signaling some analyst conviction that recent operational momentum has value. Wells Fargo PT Raise
• Neutral Sentiment: Elevated options activity — Unusually large call buying was reported around the print, indicating speculative interest or hedging that can increase intraday volatility but not necessarily change fundamentals.
• Neutral Sentiment: Third‑party tie‑ups may help AR long term — Coverage noted Qualcomm stock strength on an AR partnership; this partnership is a potential medium‑term positive for Snap’s AR monetization but is not an immediate revenue driver. Qualcomm / Snap AR
• Negative Sentiment: Perplexity deal cancelled — Snap said its previously announced ~$400M AI integration with Perplexity was “amicably ended,” removing a near‑term AI revenue or product catalyst and raising questions about AI strategy execution. Perplexity Deal Ended
• Negative Sentiment: Cautious guidance and investor reaction — Management issued cautious Q2 revenue assumptions (explicitly excluding Perplexity), and coverage highlights guidance disappointment; that forward uncertainty is pressuring the stock. Guidance Disappoints
• Negative Sentiment: Legal & governance overhangs — Pomerantz announced an investor investigation and Randian Capital’s activist push is public, adding regulatory/legal risk and governance uncertainty that can weigh on the multiple. Pomerantz Investigation
• Negative Sentiment: RBC cut price target — Royal Bank of Canada lowered its PT from $10 to $8 and moved to “sector perform,” trimming upside expectations and signaling less bullishness from a major desk. RBC PT Cut

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

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