Snap Inc(NYSE:SNAP) shares were climbing Friday after the company reported higher-than-expected earnings for its first quarter.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
Goldman Sachs On Snap
AnalystEric Sheridanreiterated a Neutral rating while raising the price target from $13.50 to $16.
Snap reported strong first-quarter revenue growth of 21% year-on-year, beating Street expectations, "driven by both direct response (+17% YoY driven by improvements to the ad platform) and brand (+12% YoY)," Sheridan wrote in a note.
He added that the company's adjusted EBITDA of $46 million...
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