Snapchat parent Snap could be on the verge of a turnaround, according to analyst Andrew Boone of JMP Securities.
He upgraded the stock from to “Market Outperform.” His new rating is based on the planned redesign of the app, which will, among other things, introduce new AI tools. This revision was unveiled last month.
“With the launch of Simple Snapchat and Sponsored Snaps, we expect impressions to grow. We believe the new advertising products will increase engagement and increase ad load in the US and North America,” Boone wrote.
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