Social media co. Snap (SNAP) shares surges after BTIG upgrades stock to Buy

: SNAP | Snap Inc. Class A Common Stock News, Ratings, and Charts

SNAP – Shares of social media company Snap rallied more than 7% Thursday after one longtime skeptic upgraded the stock.


  • BTIG now recommends investors buy the beat-up equity and thinks that the media sharing platform could see its shares soar 50 percent.
  • “We are increasingly confident that overseas direct response/performance advertisers are taking advantage of low relative bid prices,” analyst Greenfield writes.
  • Greenfield has never had a buy rating on the shares, which went public in March 2017 at $17.

Shares of social media company Snap rallied more than 10 percent Thursday after one longtime skeptic upgraded the stock and told clients that it’s set for outperformance thanks to better advertising sales.

BTIG analyst Richard Greenfield now recommends investors buy the beat-up equity and thinks that the media sharing platform could see its shares soar 50 percent over the next 12 months.

“Your initial reaction is likely why now and what changed, as virtually everything that could go wrong for Snapchat over the past couple years since going public has gone wrong,” Greenfield began. “Performance advertisers are laser focused on return on investment and spend (and spend more) where they see a compelling return.”

“We are increasingly confident that overseas direct response/performance advertisers are taking advantage of low relative bid prices on ad inventory in the U.S.,” he added.

Revived advertising spend would likely come as a welcome reprieve for Snap investors, who’ve seen their shares sink as much as 70 percent from their IPO price within the past year before rebounding to $10.05. Greenfield has never had a buy rating on the shares, which went public in March 2017 at $17.


Snap Inc. shares were trading at $11.14 per share on Thursday morning, up $1.09 (+10.85%). Year-to-date, SNAP has gained 102.18%, versus a 12.55% rise in the benchmark S&P 500 index during the same period.

SNAP currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #21 of 54 stocks in the Internet category.


This article is brought to you courtesy of CNBC.

SNAP at a Glance

SNAP Current POWR Rating™
Overall POWR Rating™
SNAP Current Price $10.73 2.54%
More SNAP Ratings, Data, and News

SNAP Price Reaction

The day of this event (Mar. 14, 2019)
SNAP Closing Price$11.28 12.24%
SNAP Volume80,897,200
235.22% from avg
Leading up to this event
SNAP 1-mo return9.36%
After this event
SNAP 1-day return9.95%
SNAP 3-day return5.46%
SNAP 5-day return8.72%

SNAP Price Chart



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