Citi raised the firm’s price target on Snap (SNAP) to $13 from $11 and keeps a Neutral rating on the shares. The firm says that with watch time growing globally, advertisers doubling in Q3, and margins expanding, it is encouraged with Snap’s Q3 results. However, the company’s brand advertising remains challenged and its Simple Snapchat redesign roll-out through 2025 could impact engagement and monetization overall, the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNAP:
- StockTok: Meta to face FTC monopoly trial in April
- Snap Inc. call volume above normal and directionally bullish
- Snap alleges New Mexico ‘mischaracterized’ investigation, The Verge reports
- StockTok: Meta fined in India and Europe for antitrust violations
- Snapchat adds location sharing features to Family Center