BofA Lowers PT on Snap From $10 to $9.50, Keeps Neutral Rating

Snap Inc. (NYSE:SNAP) is one of the 11 Low Price High Volume Stocks to Buy According to Analysts. On August 6, BofA lowered the price target on Snap Inc. (NYSE:SNAP) from $10 to $9.50, keeping its Neutral rating on the stock.

Justin Post from BofA downgraded the price target on SNAP following the Q2 FY2025 results. Post slightly adjusted the price target after the company missed both revenue and EBITDA estimates. The company posted revenue of $1.34 billion, missing consensus by $830,660 and up 9% from a year ago.

Post retains its neutral stance on SNAP following a Q3 revenue outlook that underwhelms expectations. The company expects its Q3 FY2025 revenue to be between $1.47 billion and $1.51 billion. Snap Inc. continues to improve its subscription base, with 932 million monthly active users in Q2, up by 7% from a year ago. Snapchat+ subscriptions reached 16 million, contributing notably to other revenue with a significant 64% year-over-year growth. The company continues to innovate with new products such as Lens+ and plans to launch its first stand-alone AR glasses in 2026.

Snap Inc. (NYSE:SNAP) is a technology company that operates one of the top social media platforms, Snapchat.

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Disclosure: None. This article is originally published at Insider Monkey.