Wells Fargo & Company Increases Snap (NYSE:SNAP) Price Target to $6.00

Key Points

• Wells Fargo raised Snap’s price target to $6.00 from $5.00 while maintaining an “equal weight” rating, implying roughly 5.9% upside. Analysts overall remain cautious, with a consensus “Hold” rating and $7.57 target price.
• Snap’s latest quarterly results exceeded expectations: revenue rose 18.9% year over year to $1.60 billion, while its per-share loss of $0.10 was narrower than forecast. Management cited improving advertising performance, margin expansion and positive free cash flow.
• Snap shares were trading up 12.4%, but insider selling remains notable, with executives selling about 2.87 million shares worth $15.9 million over the past three months. Hedge funds and institutional investors own approximately 47.5% of the stock.

Snap (NYSE:SNAP - Get Free Report) had its target price upped by research analysts at Wells Fargo & Company from $5.00 to $6.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's target price indicates a potential upside of 5.91% from the stock's current price.

A number of other research firms have also commented on SNAP. Canaccord Genuity Group reduced their target price on Snap from $7.00 to $6.00 and set a "hold" rating for the company in a report on Tuesday, April 14th. TD Cowen assumed coverage on Snap in a research report on Monday, April 27th. They set a "buy" rating on the stock. UBS Group reiterated a "neutral" rating on shares of Snap in a report on Tuesday. Rothschild & Co Redburn raised Snap from a "neutral" rating to a "buy" rating and set a $10.00 target price for the company in a research report on Monday, April 27th. Finally, Barclays upped their target price on shares of Snap from $15.00 to $16.00 and gave the company an "overweight" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.57.

Snap Trading Up 12.4%

NYSE:SNAP opened at $5.67 on Tuesday. The company's 50 day moving average price is $4.96 and its 200-day moving average price is $5.34. Snap has a 52 week low of $3.81 and a 52 week high of $9.55. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of -23.43 and a beta of 1.03.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The firm's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) EPS. On average, equities research analysts forecast that Snap will post -0.07 earnings per share for the current fiscal year.

Insider Transactions at Snap

In related news, CTO Robert C. Murphy sold 2,000,000 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $5.44, for a total transaction of $10,880,000.00. Following the completion of the transaction, the chief technology officer owned 47,012,324 shares in the company, valued at approximately $255,747,042.56. This represents a 4.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Douglas Hott sold 124,209 shares of Snap stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $695,570.40. Following the completion of the sale, the chief financial officer owned 2,571,149 shares in the company, valued at approximately $14,398,434.40. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 2,868,059 shares of company stock valued at $15,855,631.

Institutional Investors Weigh In On Snap

Hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. raised its position in Snap by 232.5% during the first quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company's stock valued at $21,748,000 after purchasing an additional 3,306,024 shares during the period. Empyrean Capital Partners LP purchased a new position in shares of Snap in the 1st quarter worth approximately $25,300,000. Leonteq Securities AG bought a new position in shares of Snap during the 4th quarter valued at approximately $1,620,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Snap during the 4th quarter valued at approximately $1,629,000. Finally, Marsico Capital Management LLC bought a new position in shares of Snap during the 4th quarter valued at approximately $5,620,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Snap

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snap reported second-quarter revenue of $1.60 billion, up 18.9% year over year and above the $1.54 billion consensus estimate. The company’s $0.10-per-share loss also beat expectations for a $0.12 loss, while management highlighted margin expansion, positive free cash flow and improving advertising performance. Snap Second Quarter 2026 Financial Results
• Positive Sentiment: Advertising spending tied to the FIFA World Cup, stronger demand from large North American advertisers and the adoption of Snap’s artificial-intelligence tools supported the quarterly beat. The company forecast third-quarter revenue of approximately $1.7 billion, broadly in line with consensus but viewed as a strong outlook. Snap Stock and World Cup Advertising
• Positive Sentiment: The earnings report showed progress in Snap’s core advertising business and continued growth in direct revenue, reinforcing management’s message that the business is building a more durable financial foundation. Snap Earnings and Sales Forecast
• Neutral Sentiment: Cantor Fitzgerald raised its price target from $5 to $6 but maintained a neutral rating. Rosenblatt Securities lowered its target from $6.40 to $6 and also kept a neutral rating, suggesting limited analyst conviction despite the earnings reaction. Benzinga Analyst Price Targets
• Negative Sentiment: CEO Evan Spiegel avoided providing details on pre-order demand for Snap’s upcoming Specs smart glasses ahead of the September launch, leaving uncertainty around a potential future growth driver. Snap Specs Pre-Order Questions

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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