From Financial Modeling Prep: 2024-11-29 10:57:00

Snap (NYSE:SNAP) shares rose over 3% as Citi analysts upped the price target to $13 from $11, maintaining a Neutral rating. Revenue pressure persisted due to e-commerce investment shifts to beverages. Snap’s renewed focus on e-commerce could boost Q4 2024 and 2025 performance, but uncertainty around timing tempered expectations.

Snap pursued M&A opportunities, including acquisitions of Western Son Vodka and an energy drink business. Expected to enhance financial stability and operational efficiency, these deals could benefit Snap’s brand portfolio. Despite confidence in funding and M&A completion, revenue forecasts for 2024 and 2025 were revised down.

Although challenges persisted, analysts maintained a Buy rating on Snap, highlighting long-term risk-reward potential from strategic initiatives. Visibility into funding and M&A timeline remained limited, but Snap’s focus on e-commerce reinvestment could drive improved performance in the coming years.



Read more at Financial Modeling Prep:: Citi Lifts Snap Price Target to $13, Shares Gain 3…