SNS Stocks Surge 7% on Brokerage Upgrade

Snap Inc. (NYSE: SNAP) shares climbed 7.42% on the 27th to trade at $6.07 during U.S. hours, lifting its market capitalization to about $8.7 billion—a one-day gain of roughly $700 million. Trading volume reached approximately 29.3 million shares.

The surge followed Rothschild Redburn’s upgrade of Snap from “Neutral” to “Buy,” which doubled its price target to $10 while highlighting the company’s improving financial health, advertising and subscription growth, disciplined cost management, and the potential to achieve GAAP profitability later this year. In its investor update earlier this month, Snap raised first-quarter guidance and announced an earnings release for May 6. In mid-April, the company also disclosed plans to cut about 1,000 jobs—roughly 16% of its global workforce—and to reorganize around artificial intelligence, underscoring its focus on boosting profitability.

Snap, the U.S. big-tech firm behind the Snapchat social-media app, posted approximately $5.9 billion in revenue and a net loss of about $460 million in 2025, with more than 940 million monthly active users. The company is expanding its ad platform and paid subscriptions while building an augmented-reality hardware and software ecosystem, ahead of its planned launch of consumer AR glasses, “Spectacles,” in 2026.