“Android is absolutely critical to our strategy. There’s something like 2 billion Android users that don’t use Snapchat. A couple percent of those I think would be well received by all of us,” said Spiegel.
An analyst from Barclays is positive that the camera company will start seeing its user base increase again once its new Android app becomes available.
In a note to investors, Barclays analyst Ross Sandler, wrote, “If and when the new overhauled Android app is available and SNAP potentially gets that side of its user base growing again, we think overall net adds can return to the 7 million-plus quarterly cadence that SNAP averaged before the redesign. If that plays out, we wouldn’t be surprised to see SNAP shares continue to rebound back to levels experienced for most of 2018.”
Take note that SNAP’s stock price is slowly climbing since January 2019. The stock closed $9.80 per share on Thursday. It is up by 41 percent year-to-date. See chart below:
