A key strategic partnership with Amazon (NASDAQ:), enabling on-platform checkout, is seen as a significant move towards deepening integrations with large advertisers. This, coupled with over 17 major machine learning (ML) ranking and optimization improvements, is expected to enhance user engagement and ad revenue. Moreover, Snap's focus on cost discipline has been evident, with better-than-expected EBITDA results in recent quarters.
While Snap's stock has experienced volatility, recent upgrades in ratings and price targets reflect a growing confidence in the company's recovery trajectory. Analysts have upgraded Snap from 'Hold' to 'Buy' and 'Overweight', with price targets ranging from $10.00 to $22.00. These upgrades are backed by expectations of revenue growth acceleration into the mid-teens and significant improvements in advertising platform performance.
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