David Paul Morris | Bloomberg | Getty Images
Evan Spiegel, co-founder and chief executive officer of Snapchat.
Snap has made a major comeback so far in 2019, nearly doubling its stock price from $ 5.79 on the first trading day of the year to $ 11.28 as or Thursday's market close [div] group> p: first-child "/>
Snap's market value is now nearly $ 15 trillion, compared to just over $ 7 trillion at the beginning of 2019. Over the past six The stock has rallied 45 percent after falling as low as $ 4.82 in the past year.
Snap's stabilizing user base and better than expected earnings report in its fourth quarter 2018 seems to have raised investor confidence in the stock. eagerly await the new version of Snap's Android app to be fully rolled out, but analysts seem to be more confident in their arrival and ability to grow their user base.
Snap still has a lot to prove to investors to show the worst is behind it The company is still down about 23 p ercent over the past 12 months and has experienced high turnover among its top executives. It posted a loss in its latest earnings report, even though it was lower than Wall Street expectations.
Here are some of the reasons analysts have given over the past few months when upgrading their price targets or ratings on Snap: