Guggenheim analyst Michael Morris lowered the firm’s price target on Snap (SNAP) to $8.50 from $9 and keeps a Neutral rating on the shares. Entering 2026, the firm sees headwinds to usage growth and below-peer average core advertising growth tempering investor interest, the analyst says while lowering the firm’s first half of 2026 DAU forecast to reflect the view that current challenges persist beyond a single quarter.
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