Snap Inc (SNAP) PT Raised to $21 at RBC Capital; Q3 Results 'Strong'

RBC Capital analyst Mark Mahaney raised the price target on Snap Inc (NYSE: SNAP) to $21.00 (from $20.00) while maintaining an Outperform rating following "strong" Q3 results. The analyst said the stock is becoming "more investible."

The analyst commented, "SNAP posted Beat & Bracket Q3 results, with Revenue, EBITDA and DAUs better than RBC/Street. Revenue growth accelerated for the third quarter in a row, Gross Margins reached record highs, EBITDA loss was a record low and DAU growth accelerated to double-digits Y/Y. Reit Outperform. Estimates up & PT up to $21."

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