Angelica Ballesteros
1 min read
In This Article:
Snap Inc. (NYSE:SNAP) is one of the 10 Stocks Leave Wall Street Stunned.
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.
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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.
