Canaccord analyst Maria Ripps raised the firm’s price target on Snap to $15 from $14 and keeps a Hold rating on the shares. The firm said Snap reported strong Q1 results, with both revenue and profitability coming in well ahead of the upper end of its repsective guidance ranges as the company’s investments in its ad platform and DR capabilities yielded better than expected results.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNAP:
- SNAP Earnings: Shares Vault 27% Higher after Surprisingly Strong Quarter
- Options Volatility and Implied Earnings Moves Today, April 25, 2024
- Snap price target lowered to $14 from $16 at BofA
- Meta, Google to benefit from TikTok ban, Washington Post reports
- #SocialStocks: TikTok to challenge enactment of U.S. ban
