Snap Stock Rallies After Q2 Earnings Beat as Analysts See Improving Ad Revenue Trends

Snap Inc (NYSE: SNAP ) shares rallied in early trading on Tuesday after the company reported upbeat second-quarter results. Here are the key analyst takeaways: Rosenblatt Securities analyst Barton Crockett reiterated a Neutral rating, while cutting the price target from $6.40 to $6. DA Davidson analyst Wyatt Swanson reiterated a Neutral rating, while raising the price target from $5 to $5.25. Cantor Fitzgerald analyst Deepak Mathivanan reaffirmed a Neutral rating, while raising the price target from $5 to $6. JPMorgan analyst Doug Anmuth maintained an Underweight rating and price target of $6. Check out other analyst stock ratings. Rosenblatt Securities: Snap’s revenues grew 18.9% year-on-year to $1.599 billion and adjusted EBITDA rose sixfold to $250 million, exceeding guidance of $1.52-$1.55 billion and $175-$200 million, respectively, Crockett said in a note. While global DAU (dail...