Snap shares surge 26% on earnings beat, optimistic outlook
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Snap (SNAP) raised to Buy at HSBC as top-line growth accelerates
April 26, 2024 9:58 AM EDTOn Friday, Snap (NYSE: SNAP) received an upgrade from HSBC from a 'Reduce' to a 'Buy' rating, with the price target being increased to $15.10, up from the previous $10.00. This change in stance comes after Snap reported a robust first quarter for 2024, with revenues and earnings surpassing HSBC's estimates and the Visible Alpha consensus.
Snap disclosed its first-quarter earnings after the market closed on Thursday, revealing revenues of $1,195 million, a 21% year-over-year increase. This figure exceeded HSBC's... More
