BUZZ-Street View: Snap ads propped up by young users seeking…


** Canaccord Genuity (“Hold,” PT:$15) says company advertised better-than-feared through the pandemic, given warnings of waning demand from Facebook and Twitter

** Brokerage says increased time spent interacting with new shows and new game releases on Snapchat helped user metrics and revenue stay strong

** Jefferies (“Buy,” PT: $20) says Snap is sheltering itself from a slowing macro economy by pivoting aggressively into “stay-at-home” verticals like eCommerce and Gaming which are seeing unprecedented demand

** RBC Capital Markets (“Outperform,” PT: $21) says Snap’s “uniquely young” demographic gives it an advantage with more digitally-oriented advertisers and believes it is incrementally better positioned to deal with the impact of COVID-19

** Cowen and Company (“Outperform,” PT: $19) says Snap had strong DAU additions reflecting strong engagement and increased utilization with all users

** JP Morgan (“Overweight,” PT: celular $18) says the company’s efforts to double down on its Direct Response advertising business, a form of advertising which urges customers to respond immediately, was paying off in the current environment (Reporting by Samantha Machado in Bengaluru)