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Snaps "viral" filters earn the share more love from Wall Street



Snap Inc. seems to have regained its former glory, and now Wall Street analysts do not want to miss the boat anymore.

Goldman Sachs & # 39; Heath Terry was the last to upgrade Snap shares

SNAP, + 0.80%

said on Friday that the company's new set of hyperrealistic augmented reality filters has sparked renewed user interest and may positively surprise the messaging company in the coming quarters ,

Snap has been struggling to cope with the growing popularity of Facebook Inc. in recent years

FB, + 0.06%

Instagram copied some of Snapchat's most basic features, including filters and short-lived "stories" ̵

1; with more success. Witty filters that users could use to depict mustache or dog ears have brought Snap to the map in their earliest days, and now the company seems to have recaptured that magic with its latest iteration of filters that allow users to swap genders or even call themselves can represent babies.

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Terry expects user growth to accelerate for Snap as product enhancements drive more smartphone users to service. Snap's new filters have attracted a lot of attention, but the company has also restarted its Android app and released new games that can be played within the company's messaging feature. Snape's inadequate Android app detracted from the ability to attract foreign users last year, but the company could come around the corner.

According to Terry, who reversed his valuation for the stock, Snap also displays momentum on the ad's front by buying neutral while raising its price target from $ 13 to $ 18. "Our advertisers' reviews also lead us to believe that the company's continued ad stacking innovation, particularly self-service, should enable Snap to significantly improve the monetization of user time spent on the platform over time," he wrote.

] Read: Shares of Stitch Fix rising after upgrading from Goldman Sachs. Pivotal Research called the growth in user growth in June, while BTIG, Bank of America and MoffettNathanson also highlighted the company's recent traction cheered.

Snap shares have so far gained 184% this year, while the S & P 500

SPX, + 0.13%

increased by 34%. The company will announce the second quarter results on July 23.


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