Why Is Snap Stock Trading Higher on Thursday?
Snap Inc. (NYSE: SNAP ) shares rose about 3% in Thursday premarket trading after new enterprise partnerships expanded the use cases for its SPECS augmented reality glasses.
The stock also benefited from a risk-on backdrop, with S&P 500 futures up about 0.9%.
SNAP had gained more than 4% in after-hours trading on Wednesday.
Snap announced partnerships with Salesforce Inc. (NYSE: CRM ), Nvidia Corp. (NASDAQ: NVDA ) and Amazon.com Inc.'s (NASDAQ: AMZN ) Amazon Web Services.
The partnerships bring AI and computing capabilities to SPECS for field service, remote support and retail applications.
Salesforce's Agentforce AI can help workers identify objects, create cases, retrieve information and update workflows. AWS is bringing workplace assistant Amazon Quick to SPECS, while Nvidia's XR technology supports real-time guidance.
The partnerships also come around Snap's SPECS hardware showcase in Los Angeles, where CEO Evan Spiegel is highlighting AI assistance, workplace tools, and shared experiences.
The framework would reportedly restrict children under 15 from independently accessing social media and require age verification.
Users aged 13 and 14 could access platforms only through parent-created accounts with additional controls.
Shares were 6.8% above the 20-day simple moving average, 14.5% above the 50-day SMA, and 2.2% above the 200-day SMA.
MACD is above its signal line with a positive histogram, indicating improving momentum.
The broader setup remains mixed, with the 50-day SMA still below the 200-day average. Key resistance is near $6.00.
Snap's next estimated earnings report is scheduled for Nov. 4, 2026.
Analysts expect earnings of 4 cents per share, versus a loss of 6 cents a year earlier, on revenue of $1.73 billion, up from $1.51 billion.
SNAP carries a Hold consensus rating with an average analyst price forecast of $7.32.
SNAP Price Action: Snap shares were up 2.97% at $5.89 during premarket trading on Thursday, according to Benzinga Pro data .
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