Snap Inc. shares /zigman2/quotes/205087158/composite SNAP -0.12% are rising in Thursday morning trading after Bank of America Merrill Lynch analyst Justin Post wrote that the company could be set to deliver an "upside user quarter" due to a spike in Snapchat app downloads. "Overall we anticipate improving user trends and revenue upside in 2Q, though we expect Snap to remain conservative in its outlook," he wrote in a note to clients. Post said that his channel checks with advertisers were mixed, although spending on self-service ads is "likely up materially." He maintained a neutral rating on the stock given that the app-download data seem to be well understood by the market and Snap is heading into a typically slow period for usage. The stock has risen 184% so far this year, as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.0020% has gained 20%.