Snap Stock Jumps After Wells Fargo Boosts Price Target

Benzinga

Snap Inc. shares rose 7.59% to $9.35 on Tuesday after Wells Fargo raised its price target from $8 to $11, citing strong Q2 revenue projections and momentum in a stabilizing ad market. Wells Fargo now expects Snap's Q2 revenue to grow 13% year-over-year, with $165 million in subscription revenue, according to Investing.com. Sponsored Snaps, which monetize the chat interface, could generate $400 million annually by 2027. While U.S. and Canadian daily users fell 4%, international growth remained steady at 8%. Snap's AI integration and the launch of its 2026 AR glasses also drew attention. Loop Capital lowered its target to $12 but maintained a Buy rating, while Benchmark reiterated its Hold recommendation. TikTok's regulatory troubles in the EU may further benefit Snap’s ad business.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Snap shares rose 7.59% to $9.35 on Tuesday after Wells Fargo raised its price target from $8 to $11,

00:10sending strong Q2 revenue projections and momentum in a stabilizing ad market.

00:15Wells Fargo now expects Snap's Q2 revenue to grow 13% year-over-year with $165 million in subscription revenue, according to Investing.com.

00:24Sponsored Snap's, which monetized the chat interface, to generate $400 million annually by 2027.

00:30While U.S. and Canadian daily users fell 4%, international growth remained steady at 8%.

00:35Snap's AI integration and the launch of its 2026 AR glasses also drew retention.

00:40Loop Capital lowered its target to $12 but maintained a buy rating.

00:43While Benchmark reiterated its hold recommendation, TikTok's regulatory troubles in the EU may further benefit Snap's ad business.

00:50For all things money, visit Benzinga.com.

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