Snap will surge 40% to its $17 initial-public-offering price, according to an RBC analyst.
The report listed five reasons for the upgrade and said Snap shares have a more than 40% upside.Snap's stock price is going to soar back to its initial-public-offering price of $17 a share, according to one Wall Street analyst.
The company went public in March 2017 at $17 a share, but after an initial spike dropped steadily through the end of 2018 before rebounding over 100% this year. Shares were up nearly 5% early Monday, trading near $12.40 apiece.1."Evidence of Stabilization in Apple iOS and Traction in Android Users": Snap has also faced a series of"technical" glitches in its Android product which has limited adoption outside of the US . These glitches have now largely been fixed, potentially setting the app up for growth in these regions.
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