Snap Stock Gets a Redburn Upgrade Before Earnings. The Next Test Is May 6
Snap Inc. shares edged up 0.4% to $6.09 after Rothschild Redburn upgraded the stock to Buy and doubled its price target to $10. Snap plans to cut about 1,000 jobs and close 300 roles, aiming to reduce annual costs by $500 million by late 2026. Layoffs will cost $95 million to $130 million. The company reports first-quarter results May 6.