Snap jumps on news its still the app of choice for teenagers

Snapchat

Snap‘s stock was up on Monday after a survey conducted by RBC Capital Markets found that its Snapchat app is still the darling of US teenage consumers.

Snapchat was the most popular app among teenagers from aged 13 to 18, with 79% of respondents claiming to have an account. Among the age cohort, 73% said they had an Instagram account and only 57% said they had a Facebook account.

The teenage cohort has become an important demographic among social media platforms because teenagers can provide a signal of future internet consumer trends.

Snapchat was also the app of choice among teenagers when asked to pick only one social media network they could keep with them if they were stuck on a deserted island. The survey found that 44% of teenagers picked Snapchat, followed by Instagram with 24% and Facebook with 14%.

Though Snap has fallen out of favour with some investors this year-plummeting below $US12 a share after its disastrous third-quarter earnings-it has since climbed back after some positive news from analysts.

The company is trying out a new redesign of its app, which could draw in more users and boost user engagement, a Barclays analyst found.

Snap’s stock was up 1.75% at $US16.03 per share on Monday. It’s down 5.7% since its March initial public offering.

To read more about how Snap’s new look could change its fortunes for the better, click here.

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