Snap Stock Jumps As Analysts Boost Price Target On Strong Earnings

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Snap stock jumped Wednesday after the owner of Snapchat posted fourth-quarter earnings late Tuesday that blew past expectations. Raymond James analyst Aaron Kessler upgraded Snap stock to market perform from underperform but did not specify a price target. Nomura analyst Mark Kelley raised his price target on Snap to 9 from 6 but maintained a rating of neutral. "The two most positive pieces of the fourth quarter story were that the user base stabilized, and the redesigned Android app has been rolled out selectively after a fairly long wait," Kelley wrote in a note to clients. "We see the potential for better-than-anticipated user growth in 2019 given the positive reception of the redesigned Android app," Thill wrote in a note to clients.

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