Snap is the 'comeback kid.' Here's what Wall Street is saying about its latest results.

Rating: Sector Perform

Price target: $10 (from $8)

"Things clearly getting less worse, but are they getting better?" Mark Mahaney wrote in a note on Monday.

He said he was maintaining his rating on the stock, rather than upgrading it, due to "valuation and uncertainty."

"SNAP noted that it is cautiously optimistic and does not foresee a Q/ Q decline in DAUs in Q1. Still, we are reserving judgement on the early, limited release of the improved Android app, with mngmt saying early tests showing promise," he wrote, referring to daily active users.

Rating: Underweight

Price target: $7 (from $6)

"Though these were encouraging results, one quarter doesn’t make a trend and we remain Underweight as we look for further signs of improvement in the business," analyst Doug Anmuth said. "We continue to believe growing DAUs will be challenging and the competitive landscape for both user time and advertiser dollars remains intense."

He added: "We believe there is better risk/reward in other names, including FB & TWTR, which are two of our top picks."

Rating: Neutral

Price target: $9 (from $7)

"Mgmt stated that it has begun to roll out its new Android app to small set of users, and that tests have been positive," analyst Mark May, who upgraded the stock last month to "neutral" from "sell," wrote in a report out Wednesday.

"All in, we view these results and outlook as encouraging. However, given valuation and still-flat user and engagement trends, we are maintaining our Neutral rating."

Rating: Outperform

Price target: $10.50 (from $9.50)

"As we look forward to the balance of 2019, the more important product development will be the Android app release to help reignite user growth," analyst Stephen Ju told clients on Wednesday. "Timing remains TBD for now, although Snap acknowledged that it remains in beta testing in a number of different regions."

He added: "We continue to assume DAU deterioration for 1Q19-3Q19 as before, with Snap to show a U-shaped recovery starting in 4Q19."

Rating: Neutral

Price target: $9 (from $6)

"The two most positive pieces of the 4Q story were that the user base stabilized, and the redesigned Android app has been rolled out selectively after a fairly long wait; the company expects a broader rollout to other geographies sooner rather than later," analyst Mark Kelley told clients Wednesday.

he added: "We also think the Stories ad format is gaining traction by virtue of Facebook’s push there as well, which is something that likely bodes well for SNAP longer term if user trends improve."