Snap price target lowered to $11 from $15 at Barclays

Barclays analyst Ross Sandler lowered the firm’s price target on Snap to $11 from $15 and keeps an Overweight rating on the shares. The company continues to struggle to rebuild investor and advertiser confidence, as evidenced by the limited improvement through Q1 and into Q2, while the overall digital ad market ramps, the analyst tells investors in a research note. The firm’s confidence is "mixed," but it continues to see Snap as a "highly innovative company," evidenced by the recent product launches like MyAI.