Barclays raised the firm’s price target on Snap to $17 from $15 and keeps an Overweight rating on the shares. The analyst says the “shattered confidence around the Snapchat story got a much needed boost” on the Q1 results. Advertising revenue is growing broadly in-line with the digital ad industry, the analyst tells investors in a research note.
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
- Meta, Google to benefit from TikTok ban, Washington Post reports
- #SocialStocks: TikTok to challenge enactment of U.S. ban
- TikTok says ‘unconstitutional law is a TikTok ban,’ will challenge in court