Price target: $13
Rating: Hold
"On the call, the biggest thing we expect is color on the revamped Android app rollout timing and believe that as the app rolls out throughout the year, the company should benefit from increased engagement and incremental international DAUs (both of which should help overall DAU growth based on how the company defines a DAU)," analyst Lloyd Walmsley wrote in a note to clients last Thursday.
Price target: $7
Rating: Underweight
"While our Underweight rating on SNAP remains, we acknowledge that things are getting better," analysts led by Doug Anmuth wrote in a report to clients dated Sunday. "We believe SNAP's management team has become operationally stronger & the company is focused on maintaining the increased discipline installed by short-lived CFO Tim Stone, now incoming CFO at Ford Motor."
The analysts are encouraged by Snap's innovation, and are closely watching features of Snap's earnings report like daily active users and iOS trends, advertiser traction, cash burn rate, and second-quarter guidance.
Price target: $17
Rating: Outperform
The key factors to focus on, according to analysts led by Mark Mahaney, are the daily active users Snap added in the first-quarter, average revenue per user, and gross margin.
Mahaney and team expect Snap to have added 1 million daily active users in Q1 — in line with Wall Street's estimates — for a total of 187 million users.
Price target: $8.50
Rating: Underweight
"We have been wrong about SNAP year-to-date as the stock has risen ~115% (the best performer in our coverage) as its forward EV/revenue multiple has expanded by ~120%," analysts led by Brian Nowak wrote in a note to clients Tuesday.
But before the firm changes its tune, it's looking for "even stronger fundamental results" to drive meaningful outperformance from here. The analysts said they find better value in other technology names like Facebook and Alphabet.
Price target: $13 (upped from $10.50)
Rating: Outperform
"We maintain our Outperform rating based on the following factors: 1) potential for better-than-expected user growth with a revamped Android app, 2) advertising revenue growth acceleration by 2H19 (or earlier) as Snap laps the balance of the reserved/programmatic transition headwinds, 3) Snap is a scarce asset that offers advertisers access to a coveted younger demographic," analysts led by Stephen Ju wrote in a note to clients on Monday.
Price target: $11
Rating: Hold
"Snapchat has been the best performing social name in 1Q up 112% YTD on positive revisions and multiple expansion as Snap continues to mature as an organization, rolls out incremental improvements to its ecosystem, and finally releases its updated Android app to address user churn," analysts led by Brent Thill wrote in a note to clients on Monday.
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