Snap Inc (NYSE:SNAP) may have been on a trading cloud nine when its initial public offering (IPO) first hit, but since, the parent company of the popular Snapchat app has seen shares recede back to $17.00. Yet, one investor’s “market fears running rampant” is another’s “attractive buying opportunity,” wagers Drexel Hamilton analyst Brian White, who argues the investment is well worth it for this “hyper-growth tech stock.”

As such, choosing to look at the company over a twelve-month analysis, the analyst reiterates a Buy rating on shares of SNAP with a $30 price target, which represents a 74% increase from where the stock is currently trading.

White certainly acknowledges rocky market sentiment is nipping at Snap’s heels with daily active user (DAU) growth risks not yet at bay, “lock-up expirations this summer,” and the Facebook piece of the rivalry puzzle that threatens to oust Snap from the table. These apprehensions have sent convictions on the stock sinking to “ghastly levels.” Yet, the analyst argues, let us not dismiss the reason Snap first surged in the beginning IPO days.

White explains, “In light of the recent downdraft in Snap, it is easy to forget why investors snapped up this IPO in the first place. With the majority of Snapchat users in the 18-34 year old group, Snap taps into the most desirable, largest and most difficult to reach generation for advertisers – millennials. Moreover, as users view the world through Snap, we believe the company’s position as an early pioneer in the rise of augmented reality (AR) opens up the potential for significant monetization opportunities in mobile advertising. Finally, the mobile advertising market is large and growing rapidly with IDC forecasting $196 billion in 2020 versus $66 billion in 2016.”

Moreover, the millennial advantage gives Snap a crucial competitive edge, as White opines, “Snap’s cachet with the coveted millennial group is a major differentiator and the company is introducing innovative ways for brands to tap into this cohort. Just this week, there were many media reports indicating that McDonald’s is using Snapchat to recruit new workers.”

White concludes praising Snap’s ability to maximize on its advantage, seeking a “camera company” branding strategy. Just three weeks prior, Variety had indicated Snap bought a drone start-up, Ctrl Me, late last year, and Tech Crunch is murmuring a Spectacles sequel is in the works- this time, set to include AR functions. As the company maintains its new original content momentum, launching “World of Dance” and “Phone Swap” shows, White sees no reason to hedge his bets on this stock’s success any time soon.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, five-star analyst Brian White is ranked #210 out of 4,569 analysts. White has a 61% success rate and earns 9.7% in his yearly returns. However, when recommending SNAP, White forfeits 13.8% in average profits on the stock.

TipRanks analytics show SNAP as a Hold. Out of 34 analysts polled by TipRanks in the last 3 months, 12 are bullish on Snap stock, 17 remain sidelined, and 5 are bearish on the stock. With a return potential of 28%, the stock’s consensus target price stands at $21.81.