Snap's 180% Surge Aided by More Teens Loving Augmented Reality
- Pivotal Research raised Snap to buy, citing improved momentum
- Snap shares have almost tripled since the December low
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Business is once again booming for Snap Inc., and the stock’s more than 180% surge since a December low may uncover a path to regain the social dominance it once had among teenagers.
From a growth in users to augmented reality driving engagement, Pivotal Research Group’s Michael Levine says there are "increasing signs of momentum in the business on multiple fronts." The equity research firm upgraded Snap to buy from hold on Thursday, and raised its price target to $17.25 a share from $13.25.