Snap, Inc. (NYSE:SNAP) posted upbeat fourth-quarter results on Wednesday.

Snap reported quarterly earnings of three cents per share, which beat the consensus estimate for a loss of three cents, according to data from Benzinga Pro. Quarterly revenue came in at $1.72 billion, which beat the analyst consensus estimate of $1.702 billion by 0.84 percent. This is a 10.21 percent increase over sales of $1.557 billion in the same period last year.

Daily active users (DAU) fell to 474,000 in the fourth quarter, down from 477,000 DAU in the third quarter.

"Our Q4 results began to reflect the impact of our strategic pivot toward profitable growth, translating into revenue diversification and meaningful margin expansion," said CEO Evan Spiegel.

Snap shares gained 0.7% to $5.95 in pre-market trading.

These analysts made changes to their price targets on Snap following earnings announcement.

• Susquehanna analyst Shyam Patil maintained Snap with a Neutral and cut the price target from $9 to $6.5.
• Mizuho analyst Lloyd Walmsley maintained the stock with a Neutral and lowered the price target from $9 to $7.
• Rosenblatt analyst Barton Crockett maintained Snap with a Neutral and cut the price target from $9.5 to $6.4.

Considering buying SNAP stock? Here’s what analysts think:

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