Snap Inc. shares rose 7.59% to $9.35 on Tuesday after Wells Fargo raised its price target from $8 to $11, citing strong Q2 revenue projections and momentum in a stabilizing ad market. Wells Fargo now expects Snap's Q2 revenue to grow 13% year-over-year, with $165 million in subscription revenue, according to Investing.com. Sponsored Snaps, which monetize the chat interface, could generate $400 million annually by 2027. While U.S. and Canadian daily users fell 4%, international growth remained steady at 8%. Snap's AI integration and the launch of its 2026 AR glasses also drew attention. Loop Capital lowered its target to $12 but maintained a Buy rating, while Benchmark reiterated its Hold recommendation. TikTok's regulatory troubles in the EU may further benefit Snap’s ad business.
