Market Overview

Socialbakers Denies Rumor Of Positive Snap DAU Data

Socialbakers Denies Rumor Of Positive Snap DAU Data
Related SNAP
Facebook's Head Of Messaging Talks Monetization
Vetr Crowd Downgrades Snap

Snap Inc (NYSE: SNAP) shares spiked about 4 percent Monday on rumors of positive Daily Active User (DAU) data from Socialbakers, but a representative from the social media monitoring company told Benzinga the firm doesn't currently cover Snap.

"We are not currently tracking Snapchat within Socialbakers Analytics and have never released a report making any claims about its user numbers," Global PR Director Claire Wilson said.

The rumor's source alleged that Snapchat's DAUs reaccelerated throughout the first two weeks of March to a rate-of-change last seen in August.

The circulating report also suggested a “small boutique” initiated a Buy rating on Snap's stock; Moness Crespi Hardt started coverage of Snap with a Buy rating and $25 price target.

Shares were trading up 3 percent around $20.16 at time of publication.

Related Links:

Snap Is The Hottest Stock Among Short Sellers

How Facebook Is Laying Siege To Snapchat

Posted-In: Claire Wilson SnapChat SocialbakersNews Exclusives Tech Best of Benzinga


Related Articles (SNAP)

View Comments and Join the Discussion!

Partner Center