Snap Stock Is Jumping Today -- Is It a Buy Right Now?

Despite some bearish valuation pressures for the broader tech sector today, Snap (NYSE: SNAP) stock is moving higher in Tuesday's trading. The company's share price was up 4.2% as of 1:30 p.m. ET. At the same point in the daily session, the S&P 500 had dipped 0.1%, and the Nasdaq Composite was down 0.4%.Snap is getting a boost from new analyst coverage from Bernstein. The investment firm published a note on the company this morning that maintained a market perform rating on the stock and increased its one-year price target from $9 per share to $10 per share. The firm's analysts said that it was becoming more difficult to identify likely underperformers in the internet sectors in light of current market conditions. They also indicated that they were seeing solid performance metrics in the digital-advertising space that is central to Snap's sales and earnings. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool