# Snap Inc. (SNAP)

> Source: Nexqual · https://nexqual.com/SNAP · data as of 2026-10-29 20:02 UTC · cite as "Nexqual, Snap Inc. (SNAP), nexqual.com/SNAP" · informational, not investment advice.

**Price:** USD 5.68 (-4.70% on the day) · last close of Oct 29, 2026; US market after hours, not a live price. Prev close 5.96 · day 5.61–5.86 · 52w 3.81–9.13 · market cap $9.61B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $6.35B, net income -$311M (-4.9% margin), free cash flow $706M (SEC filings).
- 1 of 80 tracked superinvestors hold SNAP (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Analysts: Hold (mean 2.83 on a 1–5 scale) (42 analysts), mean target USD 7.44 (range 5–16).
- Total return with dividends: 1Y -25.3% vs S&P 500 +14.4%; 5Y -89.2% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04, EPS estimate USD 0, revenue estimate $1.73B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $4.12B | $4.60B | $4.61B | $5.36B | $5.93B | $6.35B |
| Gross profit | $2.37B | $2.79B | $2.49B | $2.89B | $3.26B | — |
| Operating income | -$702M | -$1.40B | -$1.40B | -$787M | -$532M | -$324M |
| Net income | -$488M | -$1.43B | -$1.32B | -$698M | -$460M | -$311M |
| EPS (diluted) | -$0.31 | -$0.89 | -$0.82 | -$0.42 | -$0.27 | — |
| Free cash flow | $223M | $55.3M | $34.8M | $219M | $437M | $706M |
| Gross margin | 57.5% | 60.6% | 54.1% | 53.9% | 55.0% | — |
| Operating margin | -17.1% | -30.3% | -30.4% | -14.7% | -9.0% | -5.1% |
| Net margin | -11.9% | -31.1% | -28.7% | -13.0% | -7.8% | -4.9% |
| Revenue growth | +64.2% | +11.8% | +0.1% | +16.4% | +10.6% | — |
| Cash + short-term investments | $3.69B | $3.94B | $3.54B | $3.38B | $2.94B | — |
| Total debt | $2.25B | $3.74B | $3.75B | $3.64B | $3.54B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.5x · EV/Sales 1.6x · P/FCF 13.6x · P/B 5.0x · FCF yield 7.34% · Earnings yield -3.24% · Buyback yield (TTM) 8.86% · Net debt $875M · EV $10.5B

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold SNAP. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | <0.01% | $100K | Unchanged |

## Analysts
Consensus Hold (mean 2.83 on a 1–5 scale), 42 analysts; mean target USD 7.44 (low 5, high 16).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-14 | UBS | Target raised | Neutral | $5.7 → $7 |
| 2026-09-17 | RBC Capital | Reiterated | Sector Perform | $8 |
| 2026-08-04 | Mizuho | Target raised | Neutral | $5 → $6 |
| 2026-08-04 | Truist Securities | Target lowered | Hold | $8 → $7 |
| 2026-08-04 | UBS | Target raised | Neutral | $5 → $5.7 |
| 2026-08-04 | Citigroup | Target raised | Neutral | $6.5 → $6.75 |
| 2026-08-04 | DA Davidson | Target raised | Neutral | $5 → $5.25 |
| 2026-08-04 | Guggenheim | Target raised | Neutral | $5 → $5.5 |
| 2026-08-04 | Citizens | Reiterated | Market Perform |  |
| 2026-08-04 | Wells Fargo | Target raised | Equal-Weight | $5 → $6 |
| 2026-08-04 | Evercore ISI Group | Target raised | In-Line | $7 → $8 |
| 2026-08-04 | Cantor Fitzgerald | Target raised | Neutral | $5 → $6 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -25.3% | -89.2% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | -25.3% | -35.9% |
| Volatility (annualized) | 58.1% | 66.8% |
| Max drawdown | -56.8% (Nov 2025→Mar 2026) | -92.7% (Nov 2021→Mar 2026) |

## Peers (Internet Content & Information)
MTCH (Match Group, Inc.) USD 42.65 +1.40% · PINS (Pinterest, Inc.) USD 19.92 -4.78% · ZG (Zillow Group, Inc.) USD 32.1 +0.72% · TME (Tencent Music Entertainment Gro) USD 8.37 +0.48% · BZ (KANZHUN LIMITED - American Depo) USD 16.28 +1.37% · BILI (Bilibili Inc.) USD 12.87 -0.23%

## More
Full page: https://nexqual.com/SNAP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.00 | $-0.00 | +$0.01 | $1.73B | 32 |
| Next quarter (ends 2026-12-31) | $0.09 | $0.08 | +10.5% | $1.95B | 32 |
| Current fiscal year (ends 2026-12-31) | $-0.06 | $-0.10 | +$0.04 | $6.81B | 37 |
| Next fiscal year (ends 2027-12-31) | $0.13 | $0.10 | +35.4% | $7.53B | 37 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.10 | −$0.12 | Beat +16.7% | — |
| — | Quarter ended Mar 31, 2026 | −$0.05 | −$0.07 | Beat +28.6% | — |
| — | Quarter ended Dec 31, 2025 | $0.03 | −$0.03 | Beat +$0.06 | — |
| — | Quarter ended Sep 30, 2025 | −$0.06 | −$0.12 | Beat +50.0% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-09-08 | 8-K | Director or executive officer change, or pay arrangement — “(b) Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers On September 3, 2026, Ajit Mohan, our Chief Business Officer, notified us that he will leave Snap to pursue other opportunities. Mr. Mohan's last day at Snap is expected to be December 31, 2026. Mr. Mohan has confirmed that his decision is not related to any disagreement with us on any matter relating to our accounting, strategy, management, operations, policies, or practices (financial or otherwise).” | https://www.sec.gov/Archives/edgar/data/1564408/000119312526385199/0001193125-26-385199-index.htm |
| 2026-08-06 | Schedule 13G/A | FMR LLC, Abigail P. Johnson: 4.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1564408/000031506626002138/0000315066-26-002138-index.htm |
| 2026-08-04 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1564408/000156440826000052/0001564408-26-000052-index.htm |
| 2026-08-03 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/1564408/000156440826000047/0001564408-26-000047-index.htm |
| 2026-07-09 | 8-K | Other material event — “On July 30, 2026, we will hold our 2026 annual meeting of stockholders. The purpose of the meeting of stockholders is described in the information statement for the 2026 annual meeting of stockholders attached as Exhibit 99.1. All Snap Inc. stockholders, including holders of Class A common stock, can access the meeting at investor.snap.com.” | https://www.sec.gov/Archives/edgar/data/1564408/000156440826000041/0001564408-26-000041-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.