Snap stock price forecast: Jefferies sees another 23% upside

on Nov 30, 2023
  • Jefferies analyst upgraded Snap Inc to "buy" on Thursday.
  • James Heaney now sees a path to revenue growth for Snap.
  • Snap stock has already rallied over 50% since late September.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

Snap Inc (NYSE: SNAP) has rallied over 50% since late September but a Jefferies analyst continues to still see meaningful upside in the social media stock.

Snap stock has upside to $16

Copy link to section

On Thursday, James Heaney upgraded the company behind the popular camera app to “buy” and said its shares could climb further to $16 which suggests another 23% upside on their previous close.

The analyst is bullish on Snap stock as he’s convinced that the worst is behind it. He also sees a “pathway back to revenue growth over the next three to five years”.

Last month, Snap reported a surprise adjusted profit for its fiscal Q3.

The New York listed firm came in ahead of Street estimates for revenue and global daily active users in its recently concluded quarter as well.

Featured Broker

Looking to invest?

Invest globally in stocks, options, futures, currencies, bonds and funds from a single unified platform, with our highest-rated broker.


Snap could partner with other retailers as well

Copy link to section

James Heaney recommends investing in the California-based company also because it has recently snagged a social shopping deal with Inc that he’s confident will help with revenue growth.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

The Jefferies analyst expects Snap to sees its revenue jump 15% year-on-year in fiscal 2024 partially on continued strength of its premium subscription.

Doubling down on its brand advertising products and partnering with other retailers will be a potential tailwind for the Snap stock as well, he added.

Heaney also upgraded Pinterest Inc to “buy” this morning and raised his price target on the tech stock to $41 that translates to about a 20% upside from here.  


Copy expert traders easily with eToro. Invest in stocks like Tesla & Apple. Instantly trade ETFs like FTSE 100 & S&P 500. Sign-up in minutes.


eToro offers real assets only, no CFD products. eToro USA LLC and eToro USA Securities Inc.; Investing involves risk, including loss of principal; Not a recommendation.

Get demo account
Snap Inc (snapchat) USA North America Social Media Stock Market Tech Trading Ideas World