Snap Inc (SNAP) PT Raised to $20 at RBC Capital

RBC Capital analyst Mark Mahaney raised the price target on Snap Inc (NYSE: SNAP) to $20.00 (from $17.00) while maintaining an Outperform rating.

The analyst commented, "SNAP posted Beat & Raise Q2 results, with Revenue & EBITDA strongly better than RBC/Street, with DAUs well ahead of expectations and up the most Q/Q (13MM) since Q2:16. Revenue growth accelerated, DAU growth turned sharply positive, Gross Margin expanded nicely & EBITDA loss narrowed materially – a 4- part Summer Cocktail. Reit Outperform. Estimates up & PT up to $20."

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