Snap (SNAP) Surges 7.13% on Bullish Analyst Rating
Snap Inc. rallied for a second straight day on Friday, jumping 7.13 percent to close at $8.72 apiece following an investment firm's more bullish rating for the company.
In a market note on Friday, Edgewater Research said that other market analysts' consensus forecast for Snap Inc.'s (NYSE:SNAP) second quarter earnings might be 'overly conservative,' suggesting huge potential for an earnings beat.
A young adult family using a Camera to record moments of their daily life.
Analyst consensus for Snap Inc.'s (NYSE:SNAP) earnings for the second quarter was pegged at $0.01 per share, markedly down from the $0.08 booked in the first quarter of the year.
For its part, Edgewater Research said it sees momentum for the social media app's direct response advertising business.
In recent news, Snap Inc. (NYSE:SNAP) acquired calendar app Saturn as part of its plans to heighten its influence among young adults.
Saturn is primarily focused on making it easier for students to keep track of school commitments, allowing calendar sharing, chatting, and joining in-app events.
While we acknowledge the potential of SNAP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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