Despite Snap Inc SNAP's latest — and poorly received — platform update, it still reigns supreme amongst teens. What Happened According to Piper Jaffray’s latest Taking Stock With Teens semi-annual report, 83 percent of respondents indicated they used Snapchat within the last month, the highest among its social media peers and slightly up from the 82-percent number in the previous survey. “Teens are clearly engaged with Snapchat’s unique approach to social (narrow network, direct messaging), and we believe this provides near-term support to Snapchat daily active user growth,” said Piper Jaffray analyst Sam Kemp. The analyst remains Neutral on Snap's stock given its extremely high crossover rate with Instagram’s user base, and its "inferior" ad product relative to Instagram and Facebook, Inc. FB's holistic targeting abilities. SourceA breakout and further upside are coming. $SNAP, Snap Inc. / D