Snap SNAP shares are trading higher Monday after Credit Suisse raised its price target on the stock from $39 to $59. The company reports its fourth-quarter earnings on Thursday.
Snap, which refers to itself as a camera company, has one of the most popular social networking apps Snapchat, in developed regions such as North America and Europe. The firm has approximately 158 million daily active users.
Snap generates nearly all of its revenue from advertising with 88% coming from the U.S. The firm is headquartered in Venice, California.
Snap shares traded up 5.33% to $55.76 Monday. The stock has a 52-week high of $57.39 and a 52-week low of $7.89.
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