Snap shares fall as Evercore sets Street's most bearish price target [MarketWatch]
Snap Inc. Class A (SNAP)
Last snap inc. class a earnings: 4/21 04:10 pm
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Source: MarketWatch
Snap shares fall as Evercore sets Street's most bearish price target Snap Inc. SNAP, -2.01% shares fell 1.1% in Wednesday afternoon trade after analysts at Evercore initiated coverage of the stock with an underperform rating. The firm's price target of $7 is the lowest among Wall Street analysts covering the stock, according to FactSet. Evercore's team, led by Anthony DiClemente, doubts that Snap will be able to grow its user base much. "Though the company introduced a major redesign last week, we struggle to see a clear path to broader appeal, as Snap has largely built its brand as distinctly for teens and 20-somethings," DiClemente wrote. He believes that Facebook Inc.'s FB, +2.00% Instagram Stories makes Snapchat "redundant" for most people who aren't already using the app. DiClemente added that while Snapchat's engagement metrics look impressive, they could be skewed by a small base of very active users. Snap says users spend about 30 minutes in the app on average, but Everc
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SNAP
News
- Snap Inc. (NYSE: SNAP) had its "neutral" rating re-affirmed by analysts at Roth Mkm. They now have a $14.00 price target on the stock.MarketBeat
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SNAP
Earnings
- 2/6/24 - Beat
SNAP
Sec Filings
- 4/18/24 - Form 4
- 4/18/24 - Form 10-Q
- 4/18/24 - Form 8-K
- SNAP's page on the SEC website