JMP Securities Upgrades Snap Inc (SNAP) to Market Outperform on Improving Engagement/Monetization Trends

(Updated - December 13, 2019 4:43 AM EST)

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JMP Securities analyst Ronald Josey upgraded Snap Inc (NYSE: SNAP) from Market Perform to Market Outperform with a price target of $20.00.

The analyst comments "We upgrade shares of Snap to Market Outperform from Market Perform and establish a $20 price target as we are incrementally confident in Snap’s ability to grow its user base, increase engagement given newer products and services, and improve overall monetization as the service attracts more advertisers and share of ad budgets. Importantly, we believe that the organization is now more stable than it was when entering 2019, and as we look into 2020, we believe Snap is well positioned to continue to add DAUs and close the monetization gap with other major social networks as its sales force reorg is now behind it and the company launches new and innovative advertising products."

For an analyst ratings summary and ratings history on Snap Inc click here. For more ratings news on Snap Inc click here.

Shares of Snap Inc closed at $14.45 yesterday.

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