Snap Inc (SNAP) PT Raised to $70 at Cowen

February 5, 2021 8:14 AM EST
Get Alerts SNAP Hot Sheet
Price: $64.39 +3.84%

Rating Summary:
    39 Buy, 14 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 21 | New: 24
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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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