Piper Sandler raised the firm’s price target on Snap (SNAP) to $10 from $9 and keeps a Neutral rating on the shares. The firm notes shares were up about 15% in after-hours trading as revenue and EBITDA were both above Street as DR revenue accelerated and expenses were better than expected. Guide for Q4 implies revenue up high single digit, in-line with Q3 but below Digital Ad peers. Subscription trends remain constructive and now represent a $750M run rate.
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