Snap Inc (SNAP) PT Raised to $9 at Jefferies Following 4Q

Jefferies analyst Brent Thrill raised the price target on Snap Inc (NYSE: SNAP) to $9.00 (from $7.00) while maintaining a Hold rating following the company's 4Q earnings report. SNAP’s positive stock reaction is warranted with 36% rev growth (vs cons of 32%), flat q/q user growth (vs neg expectation), Q1 guide slightly ahead of the Street, and the worst sentiment in our coverage.

For 2019 Jefferies models revenue of $1.55B vs $1.50B previously, adjusted EBITDA of -$364 vs -$461 previously. For 1Q19 Jefferies models DAUs of 187 vs 186 in 4Q18 and ARPU of $1.65 vs $1.21 in 1Q18.

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