Freedom Capital and Morgan Stanley Cut SNAP Price Targets

Snap Inc. (NYSE:SNAP) is one of the

. On February 23, Freedom Capital Markets reduced its price target on Snap Inc. (NYSE:SNAP) from $10 to $8 and kept its Buy rating. The research firm pointed to mixed Q4 2025 results from Snap Inc. (NYSE:SNAP).

The company beat Wall Street estimates on revenue and adjusted EBITDA, supported by growth in Snapchat+ paid subscribers and stronger monetization from Direct Response advertising. However, Snap Inc. (NYSE:SNAP) saw daily active user growth slow sharply and turn negative in North America. Management also did not include any possible revenue from its planned integration with Perplexity because of delays in finalizing the partnership agreement.

On February 23, Morgan Stanley also lowered its price target on Snap Inc. (NYSE:SNAP) from $9.50 to $6.50 and maintained its Equal Weight rating. The firm noted that the company’s core business is performing better than expected.

However, Morgan Stanley pointed out that investors will focus next on clarity on when the company could add $400 million in “high-margin” revenue through its partnership with Perplexity as the two firms are still negotiating. The research firm also noted that Snap Inc. (NYSE:SNAP) continues to lag behind the digital advertising market.

Snap Inc. (NYSE:SNAP) is an American technology and social media company that develops and maintains technological products and services. The company’s core products include Snapchat, Lens Studio, and Spectacles.

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