ADVERTISEMENT

TOP ANALYST: There are only 2 things that really matter for Snap's stock (SNAP)

Snap's stock price has been living under the shadow of its IPO for months but could break out soon.

Snap has been living under the shadow of its $17 initial public offering price for much of the last three months, but things could be looking up soon.

ADVERTISEMENT

According to Mark Mahaney, an analyst at RBC, Snap has to do just two things to see its stock price climb above its IPO price.

There is a decent chance this will happen soon, according to Mahaney. He says the company has some of the "best product innovation" in the space, and new features like the company's "Snap Map" will help drive user growth as soon as the fourth quarter of this year.

Investors have been comparing Snap's user growth to the massive size of Instagram and Facebook, which Mahaney thinks is unfair. While he said that Facebook has almost assuredly won the social media war, there is still room for Snap, and the two companies serve entirely different purposes.

ADVERTISEMENT

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

10 most dangerous African countries in 2024

10 most dangerous African countries in 2024

Russia’s nuclear influence expands further north of Africa

Russia’s nuclear influence expands further north of Africa

Navigating the future: How AI transforms selling on Amazon

Navigating the future: How AI transforms selling on Amazon

Wall decor tips: Transforming your space with style and creativity

Wall decor tips: Transforming your space with style and creativity

Putin's African diplomacy: Security talks with West, Central Africa take centre stage

Putin's African diplomacy: Security talks with West, Central Africa take centre stage

Infinix users get over 35% exclusive discount on Showmax premier league & general entertainment subscription

Infinix users get over 35% exclusive discount on Showmax premier league & general entertainment subscription

10 longest bridges in Africa

10 longest bridges in Africa

India issues free heart surgeries to 150 Ugandan children

India issues free heart surgeries to 150 Ugandan children

ADVERTISEMENT