Snap Shares Soar 4.76% on Bullish Analyst Note

Snap (SNAP) shares surged 4.76% today, reaching their highest level since February 2025 with an intraday gain of 5.36%.

The strategy of buying SNAP shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -3.5%, significantly underperforming the market. This indicates that relying on recent highs as a buying trigger and holding for a short duration is not a reliable strategy for SNAP.

Bernstein, an investment firm, recently published a note maintaining a market perform rating on Snap's stock while increasing its one-year price target from $9 per share to $10 per share. This analyst action contributed to the stock's upward movement, with Snap's shares rising during trading on that day, despite the broader tech sector experiencing bearish pressures. Additionally, Snap experienced a notable increase in bullish options activity, further contributing to the positive sentiment around the stock.