Snapchat owner Snap Inc (NYSE: SNAP) shares have risen over 350% in the last year. Analysts think there could be more opportunities for the company with its growth in social commerce and younger demographic. The Snap Analysts: Wedbush analyst Ygal Arounian upgraded shares of Snap Inc. from Neutral to Outperform and raised the price target from $52 to $75. Bank of America analyst Justin Post maintains a Neutral rating and price target of $67 for Snap. Advertising Strength: “We see Snap uniquely positioned as a video-centric platform, with an augmented reality and social commerce opportunity, also centered around a younger, digitally native audience,” Arounian said. Snap has improving momentum coming out of the pandemic with its younger audience being attractive to advertisers, the analyst notes. Snap more than doubled its advertiser count year-over-year in the fourth quarter of fiscal 2020 and reached its highest number of advertisers to date. “The strength in advertisers is an inflection point for Snap in our view as its product investments are bearing fruit.” Snap is focused on video content for advertisers and has been pushing with augmented reality. The growth of digital advertising could be a positive for Snap. Advertisers look for highly engaged audiences…
Read More
Why Snapchat Could Have A Big Quarter
