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Why Snap Stock Jumped Today

TheMotleyFool

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Shares of Snap (NYSE: SNAP) have jumped today, up by 7% as of 3 p.m. EDT, after the company received an upgrade from Wall Street. Susquehanna boosted its rating on the Snapchat parent from negative to neutral.

Analyst Shyam Patil had previously assigned a negative rating on Snap back in early 2018 but is no longer bearish, as the Snapchat operator is starting to enjoy some momentum in its business. Susquehanna increased its price target from $12 to $18, representing 14% upside from Monday's closing price.

Image source: Snap.

Source Fool.com

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