Opco upgrades Snap to Outperform, says monetization issues overcome - InvestingChannel

Opco upgrades Snap to Outperform, says monetization issues overcome

Oppenheimer analyst Jason Helfstein upgraded Snap to Outperform from Perform with an $18 price target. The company is “executing on all metrics,” Helfstein tells investors in a post-earnings research note. Pre-COVID-19 revenue of up 58% year-over-year in January and February suggests the company has overcome its monetization issues, adds the analyst. In addition, Helfstein says, Snap’s revenue per hour gap versus peers remains 55%, suggesting a “multi-year tailwind if user metrics remain stable.”