Barclays analyst Ross Sandler raised his price target for Snap to $21 from $18 saying the company last night reported daily active users and revenue that were 4M and 13% above consensus. In a post-earnings research note titled “SNAP Takes Its First Gatorade Shower,” Sandler adds that the tone of the conference call was upbeat. He reiterates his belief that the worst is behind Snap and thinks the stock can “grind higher” despite today’s 21% rally. The stock in premarket trading is up $2.89 to $16.95. Ross keeps an Overweight rating on the name.