Snap Inc. (NYSE: SNAP) shares are trading higher on Monday after Guggenheim upgraded the stock. Here's what investors need to know.
The Snap Analyst: Guggenheim analyst Michael Morris upgraded Snap from Neutral to Buy and raised the price target from $9 to $23.
The Snap Takeaways: Morris highlighted continued growth of the Snapchat+ service and continued and stable demand from its core user base of 13 to 30 year olds.
Snap CEO Evan Spiegel's 2024 outlook memo, which listed a goal of $500 million in non-advertising revenue, which implies meaningful incremental growth for ...