By Sam Boughedda
Investing.com -- Shares of Snap Inc (NYSE:SNAP) gained 3.8% Friday after Piper Sandler provided positive comments regarding the company's total addressable market.
Analyst Thomas Champion is said to have uncovered country-level monthly active user data that gives him a greater conviction in their above-consensus daily active user forecasts.
Champion explained that MAU data from SNAP Ads Manager delivers a more granular estimate of users in each country, and it showed that India and the U.S. seem to be the most important markets. However, there are also growth opportunities in Mexico, Japan, Italy, Brazil, and Spain.
"Japan (2% penetration), Italy (12%), Brazil (9%), and Mexico (31%) look compelling. We estimate ~500MM+ addressable MAUs ex-India across the top 15 countries by GDP," the analyst said.
"We're now more confident in our DAU forecasts despite being 14% above Street in '25," added Champion, who reiterated an overweight rating and $53 price target on the stock.