Stifel analyst Mark Kelley raised the firm’s price target on Snap (SNAP) to $7 from $6.50 and keeps a Sell rating on the shares. The company’s Q3 results came in ahead of expectations, though not for North America, and delivered a Q4 guide above consensus, the analyst tells investors in a research note. The firm added that the Perplexity deal is a “nice announcement,” thought it maintains its concerns about a declining North America DAU base, paired with ads growth that remains below the market.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SNAP:
- Snap price target raised to $8.50 from $8 at Morgan Stanley
- Snap Inc.: Hold Rating Amid Market Challenges and Growth Opportunities
- Snap price target raised to $9 from $8 at Susquehanna
- Snap price target raised to $10 from $9.50 at BofA
- Morning Movers: Datadog jumps, Celsius Holdings falls after quarterly results