.September 4, 2024 at 6:14:05 PM

In a recent report, Cantor Fitzgerald analyst Deepak Mathivanan set a price target of $8 for Snap Inc. (NYSE:SNAP), with a Neutral rating and a potential downside of 9% from its current price of $8.79. Snap is focusing on augmented reality (AR) to diversify its advertising business and combat competition. However, the company faces challenges with advertising revenue, a weak forecast for the current quarter, and a stock decline of approximately 48% since the start of the year. Snap’s market capitalization is around $14.42 billion, with a trading volume of about 17.39 million shares, showing volatility in its performance.