Benchmark analyst Mark Zgutowicz reiterated the Hold rating on Snap Inc. (NYSE: SNAP).
A company letter from Snap CEO Evan Spiegel to employees outlining the company's goals for 2024 was in the headlines yesterday, which underscored +20% YoY full-year Ads revenue growth.
Following leaked financial goals from Spiegel's annual Sep. letter, the analyst expects the company's 3Q earnings call to shift from muted 2H23E performance to the viability of its '24 offensive playbook.
The analyst raised several questions concerning each target. The +20% growth target implies ~$5.4 billion '24E revenue (on' ...