Market Overview

Goldman Sachs Upgrades Snap On Positive User Trends

Goldman Sachs Upgrades Snap On Positive User Trends

Snap Inc (NASDAQ: SNAP) has received an upgrade after better-than-expected user growth.

The Analyst

Goldman Sachs analyst Heath Terry upgraded Snap from Neutral to Buy and raised the price target from $13 to $18.

The Thesis

The upgrade comes as Goldman Sachs sees product improvements and feature additions leading to gains in the second half of the year.

“For Snap, we believe product improvements and feature additions are driving positive trends in user growth and engagement that, along with monetization improvement from ad tech initiatives, should drive upside to consensus estimates,” Terry said.

The analyst said underlying strength in core revenue drivers for internet companies, online advertising and e-commerce should result in upward revisions to consensus estimates and stock price outperformance.

The popularity of Snapchat's latest viral gender swap filters are also leading to the upgrade.

Price Action

Snap shares are up 1.58%, trading at $15.80.

Related Links:

Is Snapchat's Stock A Buy After Stabilizing Its User Base? The Street Debates

Guggenheim: What Snap Investors Need To Know About Instagram, Android And Advertising

Latest Ratings for SNAP

Jul 2020Credit SuisseMaintainsOutperform
Jul 2020BarclaysMaintainsOverweight
Jul 2020GuggenheimDowngradesBuyNeutral

View More Analyst Ratings for SNAP
View the Latest Analyst Ratings


Related Articles (SNAP)

View Comments and Join the Discussion!

Posted-In: Goldman Sachs Heath Terry SNAPAnalyst Color Upgrades Price Target Top Stories Analyst Ratings Best of Benzinga

Latest Ratings

NGMPiper SandlerInitiates Coverage On30.0
ETNBPiper SandlerInitiates Coverage On54.0
FLXNOppenheimerInitiates Coverage On19.0
ALTPiper SandlerInitiates Coverage On80.0
CBAYPiper SandlerInitiates Coverage On12.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at