What happened Shares of Snap (NYSE: SNAP) have jumped today, up by 5% as of 3 p.m. EST, after the company received an upgrade from Wall Street. JMP Securities has boosted its rating on the Snapchat parent from market perform to market outperform. So what Analyst Ron Josey is becoming increasingly confident in Snap's turnaround, assigning a $20 price target on Snap shares, which represents roughly 40% upside compared to yesterday's close. The firm is "incrementally confident in Snap's ability to grow its user base, increase engagement given newer products and services, and improve overall monetization as the service attracts more advertisers and share of ad budgets," Josey wrote in a research note to investors. Image source: Snap. After struggling with user metrics last year, the tech company's daily active user (DAU) base has stabilized after it revamped its Android app, which is seen as key to its success in emerging markets. Now what Heading into 2020, JMP believes that Snap has also stabilized as an organization after experiencing excessive executive turnover. Snap should be able to keep adding DAUs and may be able to "close the monetization gap with other major social networks" now that it has reorganized its sales force. For reference, Snap's overall average revenue per user (ARPU) was $2.12 in the third quarter, a fraction of larger rival Facebook's ARPU of $7.26. The analyst is modeling for a 37% jump in revenue to $2.4 billion in 2020, followed by a 30.5% increase to $3.1 billion in 2021. 10 stocks we like better than Snap Inc.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Snap Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool's board of directors. Evan Niu, CFA owns shares of Facebook. The Motley Fool owns shares of and recommends Facebook. The Motley Fool has a disclosure policy.Source