Snap stock price target cut, outperform rating on growth potential By Investing.com
On Wednesday, BMO Capital Markets adjusted its outlook on shares of Snap Inc (NYSE: NYSE:), reducing the price target from $18.00 to $16.00, while maintaining an Outperform rating on the shares. According to InvestingPro data, the stock currently trades at $11.34, with 14 analysts recently revising their earnings expectations upward.
The adjustment comes as BMO Capital acknowledges the growing advertiser adoption of Sponsored Snaps, driven by strong returns on ad spend (ROAS). This trend is seen as a positive indicator for the company’s potential revenue growth in 2025.
The analysis by BMO Capital highlights a recent positive shift in casual U.S. user engagement with Snap as 2024 concluded. This uptick in user activity is expected to…
