Goldman Sachs analyst Heath Terry upgraded Snap to Buy from Neutral and raised his price target for the shares to $18 from $13. The stock closed Thursday up 31c to $15.57. The company's new Android app, the launch of Snap Games and new viral lenses should accelerator user growth, Terry tells investors in a research note. He points out that Snap's total app downloads for May, the first month reflecting these recent innovations, was a record 41M. This represents a "stark reversal" of what were otherwise multi-year lows in app downloads that the platform experienced through most of 2018 and early 2019, says the analyst.

Welcome to "#SocialStocks," The Fly's weekly recap of Wall Street's reactions to social media stock news.  TIK TOK BAN... To see the rest of the story go to thefly.com. See Story Here

TikTok Policy issued the following statement on the enactment of "the TikTok Ban": "This unconstitutional law is a TikTok ban, and we will challenge it in court. We believe the facts and the law are clearly on our side, and we will ultimately prevail. The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation. This ban would devastate seven million businesses and silence 170 million Americans. As we continue to challenge this unconstitutional ban, we will continue investing and innovating to ensure TikTok remains a space where Americans of all walks of life can safely come to share their experiences, find joy, and be inspired." Publicly traded companies in the social media space that compete with TikTok include Meta Platforms (META), Alphabet (GOOGL), Pinterest (PINS) and Snap (SNAP). Reference Link

Meta Platforms (META), the parent company of Facebook, Instagram, WhatsApp, Oculus, Threads and other brands, is scheduled to report first quarter 2024 results after market close on Wednesday, April 24 with a conference call scheduled for 5 pm ET. Here's what to... To see the rest of the story go to thefly.com. See Story Here

Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Vista... To see the rest of the story go to thefly.com. See Story Here