Snap Inc (SNAP) PT Raised to $70 at Cowen
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Cowen analyst John Blackledge raised the price target on Snap Inc (NYSE: SNAP) to $70.00 (from $62.00) while maintaining an Outperform rating.
The analyst commented, "SNAP posted accelerating 4Q rev. growth, beating our and Street est. given stronger DR & brand ad spend, while EBITDA also beat the street. SNAP also saw rising advertiser adoption +100% y/y. 1Q21 rev guide was above Street (despite potential iOS14 impact), while EBITDA guide missed given content spend. We raised '21-'26 forecast. PT to $70 vs. $62 prior, maintain Outperform. Shares down 7% AH."
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