Canaccord Genuity has revised its outlook on Snap Inc. (SNAP, Financial), reducing the price target from $13 to $10. The firm maintains a Hold rating on the company's stock.
The adjustment comes in response to reduced advertising budget estimates, driven by prevailing macroeconomic uncertainties. Despite these challenges, Canaccord still sees potential in smaller platforms with attractive valuations, anticipating they may benefit from long-term positive industry trends despite current market volatility.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 34 analysts, the average target price for Snap Inc (SNAP, Financial) is $11.71 with a high estimate of $16.00 and a low estimate of $7.40. The average target implies an upside of 51.23% from the current price of $7.74. More detailed estimate data can be found on the Snap Inc (SNAP) Forecast page.
Based on the consensus recommendation from 44 brokerage firms, Snap Inc's (SNAP, Financial) average brokerage recommendation is currently 2.9, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Snap Inc (SNAP, Financial) in one year is $14.16, suggesting a upside of 82.95% from the current price of $7.74. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Snap Inc (SNAP) Summary page.
