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July 12, 2019, 9:01 a.m. EDT

Snap stock gains after Goldman turns bullish

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By Emily Bary

Snap Inc. shares /zigman2/quotes/205087158/lastsale SNAP +1.92% are up 3.5% in premarket trading Friday after Goldman Sachs analyst Heath Terry upgraded the stock to buy from neutral. "For Snap, we believe product improvements and feature additions are driving positive trends in user growth and engagement that, along with monetization improvement from ad tech initiatives, should drive upside to consensus estimates," Terry wrote in a note to clients. He predicts a reacceleration in user numbers in the wake of Snap's redesigned Android app and its success with new "viral" lenses that allow Snapchat users to portray themselves in different genders and ages. Snap's stock has rocketed 183% so far this year, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -3.37% has gained 20%.

/zigman2/quotes/205087158/lastsale
US : U.S.: NYSE
$ 12.18
+0.23 +1.92%
Volume: 30.82M
March 27, 2020 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$17.30 billion
Rev. per Employee
$409,309
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/zigman2/quotes/210599714/realtime
US : S&P US
2,541.47
-88.60 -3.37%
Volume: 3.59B
March 27, 2020 5:12p
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