Snap Inc. (NYSE:SNAP) is one of the 10 Best Single Digit Stocks to Buy Right Now. On May 11, KeyBanc Capital Markets reaffirmed its Sector Weight rating on Snap Inc. (NYSE:SNAP).
The research firm pointed out that Snap Inc. (NYSE:SNAP)’s growing subscription business is helping offset near-term headwinds in the advertising business, especially from weakness in the Middle East region. The company is working on cost-saving measures while continuing to expand its subscription services.
KeyBanc believes these efforts could help Snap Inc. (NYSE:SNAP) create a path toward more meaningful profitability in 2027. The research firm said that important factors to consider now center around how the company scales its Specs business and when advertising growth can return to low double-digit percentages.
The firm maintained its Sector Weight rating as it awaits more details on the rollout and growth of Specs. According to KeyBanc, Snap Inc. (NYSE:SNAP) is making progress toward reaching GAAP profitability.
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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