Snap stock sees leadership change as Citizens JMP reiterates rating

Investing.com - Citizens JMP has reiterated its Market Outperform rating and $12.00 price target on Snap Inc (NYSE:SNAP), which currently trades at $9.11 with a market capitalization of $15.3 billion.

The research firm maintained its position on Snap following the company’s hiring of Mary Ann Belliveau as president of North America Sales.

Citizens JMP noted that sales leadership turnover presents a "near-term risk to 3Q estimates" for the social media company.

The firm specifically highlighted "potential turmoil to sales changes made by new leadership" as a concern for Snap’s immediate performance. According to InvestingPro analysis, while the company shows strong recent returns, there are 8 additional key insights available to subscribers.

The reiterated $12.00 price target falls within the broader analyst range of $6.50 to $15.00, suggesting potential upside for Snap shares, which have faced challenges in recent quarters amid competitive pressures in the social media advertising space. The stock currently appears slightly undervalued according to InvestingPro’s Fair Value analysis.

In other recent news, Snap Inc. announced plans to release a new version of its augmented reality glasses, called Specs, in 2026. The glasses will integrate digital content with the physical world, acting as a personal computer with augmented reality and artificial intelligence features. Snap also revealed updates to its operating system, including new developer tools and partnerships with companies like OpenAI and Niantic Spatial. Meanwhile, Wells Fargo (NYSE:WFC) raised its price target for Snap to $11, citing expectations for improved revenue growth in the advertising sector, with a revised second-quarter revenue growth forecast of 13% year-over-year. The firm also anticipates Snap’s third-quarter revenue guidance to be between $1.54 billion and $1.58 billion. Additionally, Snap has partnered with RWS Global to enhance stadium experiences using augmented reality technology at major sporting events. Citizens JMP reiterated its Market Outperform rating on Snap, despite a decline in user engagement, noting that Snapchat’s core messaging functionality remains strong. Lastly, Snap announced that its 2025 annual stockholders meeting will be held on August 1, 2025, with details available on the company’s investor relations website.

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