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On Wednesday, shares of Snap Inc. (SNAP - Free Report) are popping, up around 6% to $21.59 per share in morning trading after the social media company received its second ‘Buy’ rating.
Drexel Hamilton analyst Brian White initiated coverage on Snap with a bullish ‘Buy’ rating and a $30 price target. He based these moves on his views that the company’s main product, Snapchat, is still incredibly popular with millennials, one of the biggest and most desirable demographics for advertisers, despite increased competition from Facebook .
"We view Snap as a platform for the imagination that unlocks the creative juices of its users and allows for uninhibited expression to be shared with friends," White wrote in a note to clients. "Moreover, Snap is making more original content available to its user base."
White also compared Snap to iPhone maker Apple Inc. (AAPL - Free Report) , saying that like the tech giant, Snap is “built around a culture of working hard to develop great products for their customers.” He even drew comparisons between Apple co-founders Steve Jobs and Steve Wozniak to Snap co-founders Evan Spiegel and Bobby Murphy.
White’s rating followed that of James Cakmak, an analyst at Monness Crespi Hardt, who gave Snap its first ‘Buy’ rating with a $25 price target on Monday. In total, Snap has six ‘Sell’ ratings and three ‘Hold’ ratings from Wall street analysts.
Now That Snapchat is Public, Which Tech Giant Could IPO Next?
You may be curious about the buzz surrounding Snap’s IPO, but should you buy up this tech stock? In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges.
You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>
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This is Why Snap Stock is Popping Today
On Wednesday, shares of Snap Inc. (SNAP - Free Report) are popping, up around 6% to $21.59 per share in morning trading after the social media company received its second ‘Buy’ rating.
Drexel Hamilton analyst Brian White initiated coverage on Snap with a bullish ‘Buy’ rating and a $30 price target. He based these moves on his views that the company’s main product, Snapchat, is still incredibly popular with millennials, one of the biggest and most desirable demographics for advertisers, despite increased competition from Facebook .
"We view Snap as a platform for the imagination that unlocks the creative juices of its users and allows for uninhibited expression to be shared with friends," White wrote in a note to clients. "Moreover, Snap is making more original content available to its user base."
White also compared Snap to iPhone maker Apple Inc. (AAPL - Free Report) , saying that like the tech giant, Snap is “built around a culture of working hard to develop great products for their customers.” He even drew comparisons between Apple co-founders Steve Jobs and Steve Wozniak to Snap co-founders Evan Spiegel and Bobby Murphy.
White’s rating followed that of James Cakmak, an analyst at Monness Crespi Hardt, who gave Snap its first ‘Buy’ rating with a $25 price target on Monday. In total, Snap has six ‘Sell’ ratings and three ‘Hold’ ratings from Wall street analysts.
Now That Snapchat is Public, Which Tech Giant Could IPO Next?
You may be curious about the buzz surrounding Snap’s IPO, but should you buy up this tech stock? In the 2017 IPO Watch List, you'll get an inside look at Snap's exciting prospects and potential challenges.
You'll also learn about 4 other exciting tech companies with jaw-dropping growth. Each could go public in the coming months. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the latest scoop. Download this IPO Watch List today for free >>