Will Snap Earnings Surprise To The Upside As They Did Last Quarter?

▤ Summary

Thats up 12.5% but a sharp slowdown from previous quarters, which reflects the big drop in advertising that most internet companies faced due to the coronavirus impact. When the Snap earnings report for its first quarter arrived three months ago the company smashed estimates. Cowen analyst John Blackledge on July 15 raised his price target on Snap stock to 29, from 19, with a rating of outperform. He expects Snap revenue to grow 19% in the second quarter, well ahead of the 12.5% forecast, driven by rising users and engagement. The Snap earnings report comes as investors have remained concerned about the growth rate of ad spending as a result of the pandemic.

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