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Dec. 13, 2019, 9:59 a.m. EST

Snap shares jump 1.8% after JMP upgrades to outperform on upbeat expectations for user growth

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By Emily Bary

Snap Inc. shares /zigman2/quotes/205087158/composite SNAP -0.17% are up 1.8% in morning trading Friday after JMP Securities analyst Ron Josey upgraded the stock to outperform from market perform. He's upbeat about the company's potential to grow users and leverage newer features to boost engagement. "Importantly, we believe that the organization is now more stable than it was when entering 2019, and as we look into 2020, we believe Snap is well positioned to continue to add [daily active users] and close the monetization gap with other major social networks as its sales force reorg is now behind it and the company launches new and innovative advertising products," Josey wrote. On the advertising front, he sees the company winning a greater share of budgets. Snap shares are up 168% so far this year, as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.18% has increased 26%.

/zigman2/quotes/205087158/composite
US : U.S.: NYSE
$ 17.56
-0.03 -0.17%
Volume: 15.26M
Feb. 14, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$24.94 billion
Rev. per Employee
$409,309
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/zigman2/quotes/210599714/realtime
US : S&P US
3,380.16
+6.22 +0.18%
Volume: 1.67B
Feb. 14, 2020 5:06p
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