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Snap Rises Following Piper Sandler Comments -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — The shares of Snap Inc The stock rose 3.8% on Friday, after Piper Sandler made positive remarks about the total market. 

Thomas Champion, an analyst is believed to have discovered country-level active user data at a monthly level that gave him greater confidence in his above-consensus daily user forecasts.

Champion said that MAU data provided by SNAP Ads Manager provides a better estimate of each country’s users. It showed that India, the U.S. and Brazil were the two most important markets. But there is also potential for growth in Mexico and Brazil.

Japan (2% penetration), Italy (12%) Brazil (9%), Mexico (31%), and Brazil (12%) all look convincing. According to the analyst, we have estimated that there are 500MM+ of addressable MAUs ex India in the top 15 economies by GDP.”

Champion said, “We are now more confident with our DAU forecasts even though being 14% higher Street in ’25,” and reiterated his overweight rating. He also set a $53 price target for the stock.

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