Sam Boughedda

Investing.com — Evercore Analyst Mark Mahaney stated Friday that he is still impressed by the company’s performance. Snap Inc Following 2022 Partner Summit of the company, (NYSE: ) product innovation.

Snap shares rose 0.45% last Friday

The Fly quoted the analyst as saying that Snap’s leadership position in AR technology and potential “commercial unlock” in social commerce left him with an outperform rating.

Mahaney stated that 600 million active monthly users were reported by the company, an increase of around 100million or 20% over last year’s Summit and “solidly ahead” of Twitter (NYSE 🙂 and Pinterest (NYSE :).

Thill, a Jefferies analyst, reiterated his buy rating on Snap and $52 price target. He stated that they attended the Summit and believe the improvements made to AR shopping tools are most compelling. This, in their view, will open up the platform for a larger advertiser base.