Snap (SNAP) Still Teens' Favorite App, Piper Survey Shows

April 7, 2021 11:50 AM EDT
Get Alerts SNAP Hot Sheet
Price: $63.27 +0.11%

Rating Summary:
    38 Buy, 15 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 14 | New: 42
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Today's upside in Snap (NYSE: SNAP) (+4%) is in part related to Piper Sandler's 41st semi-annual Taking Stock With Teens Survey, which showed that Snapchat remains the favorite social media platform (31% share) followed by TikTok (30%) & Instagram (24%).

From the report: "SNAP was again the #1 favorite app amongst teens, and #2 for engagement behind Instagram. While it did lose some ground to TikTok, we are still confident in Snap’s popularity among teens going forward, as SNAP users check the app 30x a day on average. It is also worth noting that 26% of Teens have purchased one item directly from a social media site, and we view SNAP as being in a great position to capitalize on social e-commerce going forward."

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