Snap Inc (NYSE:SNAP) has come under hot water recently for its app redesign and Snap stock has taken a hit.

The redesign, which puts all your social interactions on the left and all your media interactions on the right, has not been well received. Ever since the redesign rolled out, App Store reviews of Snapchat have tanked.

A petition to change the app back to its old format has garnered nearly 1.25 million signatures. Wall Street firm Citi downgraded Snap stock to “Sell” after taking in the plethora of bad reviews. Even widely followed entertainment celebrity Kylie Jenner chimed in, loosely saying the redesign sucks.

All together, Snap stock has stumbled from its post Q4 earnings high of $21 to under $17.

But new data is out saying that despite this seemingly consensus hatred for the redesign, downloads of the Snapchat app aren’t down at all. In fact, they’re up.

So what’s the move? Ignore the redesign haters. Consumers are just resistant change, but with time, this too shall pass. And the Snap stock growth narrative will continue to trend up.

Why Snap Stock Is Doing Fine

Despite the cries of Kylie Jenner and others, data doesn’t really support a fall off in engagement or interest in Snapchat. Instead, the opposite is happening.

Data from app analytics firm Sensor Tower shows that first-time installs of the Snapchat app were 55% higher the first week after the redesign roll-out versus the week prior.

Data from AppAnnie shows that Snapchat went from being the seventh most downloaded U.S. app prior to the redesign roll-out to the second most downloaded U.S. app after the roll-out. SimilarWeb data also corroborates that usage and downloads went up during the redesign roll-out.

So across multiple data sources, we can paint a pretty clear picture of what’s happening here. All this uproar surrounding Snapchat’s redesign has actually caused a spike in downloads and engagement. That is a good thing.

And this spike has come without much (if any) churn. Redesign opponents like Kylie Jenner haven’t all together quit Snapchat. I just opened the app, looked up Kylie Jenner’s official account, and watched her story.

From that viewing, it is clear to see that Kylie still uses Snapchat quite regularly for multiple different use cases. She uses it to sell her cosmetics products by posting a picture or video of her products to her story, and enabling the “Swipe Up to Buy” feature.

And she also just uses Snapchat like everyone else – to post visual updates about her daily life.

In other words, Kylie may not like the app redesign, but it hasn’t forced her to quit the app or lessen engagement. Data from Sensor Tower, AppAnnie, and SimilarWeb support a similar conclusion for the masses. Although a lot of people may not like the app redesign, they haven’t quit the app or lessened engagement.

Bottom Line on SNAP Stock

The whole uproar regarding Snap’s redesign seems all too familiar to the uproar Facebook Inc (NASDAQ:FB) received when they launched the News Feed back in 2006.

Back then, no one liked it. Today, it is the staple of social media at large.

Much like Facebook, Snap will shake off this early redesign resentment. As that resentment fades into the rear-view mirror, investors will once again give more credence to the company’s blowout fourth quarter numbers.

If first quarter numbers are just as good (and they should be because all signs point to this redesign controversy actually creating an engagement tailwind), then all the sudden, investors have back-to-back strong earnings reports to hang their hats on.

That will assuredly send Snaptchat stock significantly higher than where it currently is.

To be clear, I don’t think Snap will morph into the next Facebook.

But I do think that as the digital advertising market undergoes some significant changes thanks to fake news headwinds, Snap has a unique ability to grab big market share by turning into a go-to digital advertising platform for small- to medium-sized businesses that don’t necessarily need max reach advertising, but do need targeted advertising.

Under this notion, I think Snapchat stock is tremendously undervalued.

As of this writing, Luke Lango was long SNAP and FB.