. Tuesday's rally added about $1.7 billion to Snap's market cap, which is now $19.9 billion.
The BTIG analysts said the buy rating "is premised on accelerating user growth and monetization as Snapchat benefits from focusing on its core 13-34 demographic, opens up to be a platform for the mobile generation, iterates its product and ad products at a more rapid rate, infuses gaming to enhance messaging monetization and benefits from its first Android app that functions well globally expanding its addressable market.
The analysts expect Snap's gaming product to help it better monetize its chat product since it is encouraging users to spend more time in the app. The company's more open approach to third parties is also helping engagement, the analysts wrote.
Pretty sure Snap crackled and then popped
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