"BofA analyst Justin Post raised the firm's price target on (SNAP) to $10 from $9.50 and keeps a Neutral rating on the shares."
"While "encouraged" by Snap's "steady progress" in diversifying its revenue base and the significant new revenue contribution from its Perplexity deal, the firm notes that advertising still represents over 80% of total revenue and says growth rates reflect both "intensifying competition and sluggish usage trends.""
BofA raised its price target on SNAP to $10 from $9.50 while maintaining a Neutral rating. The firm expressed encouragement about Snap's steady progress in diversifying its revenue base and highlighted a meaningful new revenue contribution from the Perplexity deal. Advertising continues to represent more than 80% of total revenue, leaving the company heavily dependent on the ad market. Reported growth rates reflect intensifying competition and sluggish user engagement trends, which constrain growth prospects despite emerging non-ad revenue streams.
Read at TipRanks Financial
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