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" ̵
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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.
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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.