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Snap Investors Celebrate Q1 Earnings, But Analysts Aren't Ready To Party Just Yet: 'The Most Expensive Name In Social'

Benzinga ·  Apr 27 00:46

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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