Snap Inc. stock surged 7.59% as Wells Fargo raised price target on revenue growth forecast increase

Snap Inc. (SNAP) stock surged 7.59% after Wells Fargo raised its price target to $11 from $8, citing revenue growth forecast increase to 13% for the quarter. Analysts expect $165 million in subscription revenues and $76 million in EBITDA for Snap in Q2, with a projected 12-15% revenue growth in Q3.

Despite the positive outlook for Snap Inc., some analysts believe other AI stocks offer better return potential with lower downside risk. For those seeking cheap AI stocks, a report on the best short-term AI stocks is recommended. Disclosure: None.

Read more at Yahoo Finance: Snap Rallies (SNAP) 7.6% as Analyst Raises Price Target