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Snap stock could rise tenfold, Wall Street analyst says

Yahoo Finance Video

Yahoo Finance Live’s Brian Sozzi breaks down how Snap stock is performing.

Video transcript

BRIAN SOZZI: Let's get a look at shares of social media platform Snap. Loop Capital analyst Rob Sanderson says in a new note, Snap stock could rise tenfold over the next decade. The analyst sees growth being fueled by improved user monetization, a fancy way of saying Snap will find new ways to make more money off its users. Sanderson's price target assumes 85% upside from Snap's current stock price. Shares of Snap have been absolutely hammered during the route in tech stocks, crashing 70% year to date.