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Why Snap Stock Jumped Today

TheMotleyFool

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Shares of Snap (NYSE: SNAP) have jumped today, up by 8% as of 2:45 p.m. EDT, after the Snapchat parent received some bullish notes from Wall Street. The company is also set to report third-quarter earnings results tomorrow after market close.

Credit Suisse reiterated an outperform rating on Snap shares while increasing its price target by a buck to $21. Analyst Stephen Ju raised his estimate for third-quarter ad revenue by $10 million after conducting advertiser checks, and also boosted Credit Suisse's forecast for 2019 earnings per share from $0.26 to $0.28.

Image source: Snap.

Source Fool.com

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