BTIG analysts say investors are missing Snap's recovery.
Shares of Snap popped Tuesday after BTIG analysts wrote that investors seem to be ignoring the company's recovery.BTIG analysts said new products like gaming and face filters have boosted user engagement.popped more than 6% Tuesday after BTIG analysts wrote that investors have been glossing over the company's comeback.
"We believe street expectations for user growth and revenues/EBITDA are simply too low, with far too many investors continuing to ignore Snapchat's recovery, driven by repeated overpromising/missing expectations during Snapchat's first two years as a public company," the analysts wrote, maintaining the firm's buy rating on the stock and increasing its one-year price target from $15 to $20.
The stock has skyrocketed about 160% so far this year as it has proved its staying power among Gen Z users and introduced new products like
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