NEW YORK, July 6, 2026, 17:01 (EDT)
- Snap Inc. NYSE:SNAP ended regular trading 1.86% lower at $4.75, then changed hands at $4.76 after hours at 5 p.m. EDT. Volume came in at 58% of the 65-day average.
- The stock underperformed as the Nasdaq Composite (INDEXNASDAQ:.IXIC) added 1.1% and the S&P 500 (INDEXSP:.INX) rose 0.7%.
- Cboe is showing SNAP options pricing in a $0.23 expected daily swing, which is over twice the regular-session drop SNAP saw on Monday.
- Snap guided for Q2 revenue of $1.52 billion to $1.55 billion, which is roughly flat from Q1’s $1.529 billion.
As of 17:01 EDT, regular trading on the NYSE had ended and after-hours action had started. NYSE says core hours run 9:30 a.m. to 4:00 p.m. ET, with late trading from 4:00 p.m. to 8:00 p.m. ET. The exchange closed for Independence Day on Friday, July 3, not Monday.
Snap Inc. NYSE:SNAP slipped 1.9% to $4.75 on Monday, handing back some gains from the past five days. Most big technology and social-media stocks traded higher. MarketWatch said Snap remains up 7.0% in the last five sessions, but shares are off 41.1% so far this year. The stock has traded between $3.81 and $10.41 over the last 52 weeks.
| Monday tape | Move / price | Investor read |
|---|---|---|
| Snap Inc. NYSE:SNAP | -1.86%, $4.75 close | Down after five up sessions |
| Meta Platforms NASDAQ:META | +2.98% | SNAP missed out on peer gains |
| Pinterest Inc. NYSE:PINS | +0.82% | Another social play traded ahead |
| Invesco QQQ Trust NASDAQ:QQQ | +1.36%, $722.82 | Tech held up |
| SPDR S&P 500 ETF Trust NYSEARCA:SPY | +0.84%, $751.28 | Main indexes also closed higher |
Options gave a clearer signal. Cboe figures from The Fly/TipRanks showed 30-day implied volatility at 76.22 with an expected daily move of $0.23. Calls outpaced puts, but the put/call ratio hit 0.70 versus the usual 0.28, and the put-call skew got steeper. That’s not a straight bullish sign. It points to traders still paying up for downside protection while shares fell.
Snap now faces two sets of forecasts—its own Q2 outlook and the wider price targets from Wall Street.
| Forecast item | Latest figure | Why it matters |
|---|---|---|
| Q2 revenue guide | $1.52 bln-$1.55 bln | Midpoint lands about 0.4% higher than Q1 revenue |
| Q2 adjusted EBITDA guide | $175 mln-$200 mln | Midpoint sits about 20% under Q1 adjusted EBITDA |
| 12-month target average | $7.79 | That’s roughly 64% over Monday’s close |
| Target range | $5.25-$15.00 | Wide range shows conviction is low |
| Options expected daily move | $0.23 | Comes to about 4.8% of Monday’s close |
MarketBeat points to 35 analysts covering Snap, with 23 calling it a hold, 10 at buy, and 2 on sell. The average price target for the next 12 months is $7.79. Targets range from a high of $15 to a low at $5.25.
That lag on Monday is important. The stock trades far under the average target, but Snap’s latest outlook doesn’t call for a big revenue jump yet. The company’s Q2 revenue midpoint is $1.535 billion, just above Q1’s $1.529 billion. Snap also guided adjusted EBITDA below Q1 levels, with restructuring and cost timing still weighing this quarter.
Snap’s Q1 numbers came in stronger than the stock price move suggests. Revenue rose 12% to $1.529 billion. Daily active users hit 483 million, up 5%, and monthly active users grew 5% to 956 million. Ad revenue was up 3% at $1.24 billion. Other revenue surged 87% to $285 million. Snap reported $286 million in free cash flow.
CEO Evan Spiegel said in May that Snap was back to growing its daily active user count in Q1 and posted strong free cash flow.
Specs remains tough for investors. Reuters said on June 16 that Snap CEO Evan Spiegel stood by the company’s $2,195 consumer AR glasses after Irenic Capital, an activist investor, pushed for a review of the unit. “While investors may want more short-term profitability, our job at Snap is to drive long-term profitability,” Spiegel told Reuters. Reuters
Snap said its Q2 revenue outlook excludes any help from Perplexity, following the end of their partnership in Q1. The forecast also counts on Middle East conditions staying about as tough as they were in March and April. The company said revenue in March dropped by $20 million to $25 million due to geopolitical headwinds in the region.
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