Stifel analyst Mark Kelley has revised the price target for Snap Inc. (SNAP, Financial), reducing it from $11 to $8 while maintaining a Hold rating on the company's stock. This adjustment comes even as the advertising sector performs better than anticipated. However, the firm is adjusting its projections downward across various segments, including digital advertising, e-commerce, marketplaces, and subscription services.
The move reflects growing concerns about the broader internet sector, with Stifel noting a potential slowdown or decline in e-commerce and marketplace gross merchandise value (GMV) as consumer prices rise. The firm expressed an unusual level of unease about future forecasts, likening it to the uncertainty experienced during the COVID-19 pandemic.
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 $11.46 with a high estimate of $16.00 and a low estimate of $7.40. The average target implies an upside of 45.92% from the current price of $7.85. 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 $14.11, suggesting a upside of 79.75% from the current price of $7.85. 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.
