Piper Sandler analyst Thomas Champion lowered the firm’s price target on Snap to $8 from $9 and keeps a Neutral rating on the shares. The company’s Q1 revenue was roughly in-line with expectations, but the Q2 revenue guide worsened and implies a material step-up in operating expenditures, the analyst tells investors in a research note. Piper says the outlook for Snap "worsened again."
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