Pivotal analyst Michael Levine thinks Snap SNAP, +6.88% is making strides on user growth following its launch of a redesigned Android app earlier this year, which was meant to remedy engagement and performance issues. The user momentum is one reason why Levine upgraded Snap’s stock to buy from hold in a note to clients, joining a small group of analysts who are bullish on the stock in the face of a big recent rally.
Snap has witnessed much change within its leadership team since the company went public in March 2017, but recent additions could be having a positive impact. “We continue to hear glowing things about the organization under Jeremi Gorman,” Levine wrote of Snap’s new chief business officer, who began last fall after years on Amazon.com Inc.’s advertising team.
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