Snap Stock Is Soaring Higher Thursday: Read Why

Snap Inc SNAP shares are trading higher by 3.64% to $16.08 during Thursday's trading session in anticipation of Thursday's second-quarter earnings report.

According to analyst consensus estimates, Snap is expected to report revenue of $1.14 billion on an EPS loss of 1 cent.

Deutsche Bank maintained a Buy rating on the stock but cut its price target from $30 to $25 ahead of the report. 

What Else?

While stocks have been under heavy pressure this year amid recession fears, this week's earnings reports from Goldman Sachs GS and Netflix NFLX have helped provide some positive market sentiment going into the earnings season.

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According to data from Benzinga Pro, Snap has a 52-week high of $83.34 and a 52-week low of $11.88.