RBC Capital analyst Brad Erickson lowered the firm’s price target on Snap to $9 from $10 and keeps a Sector Perform rating on the shares. The company’s Q1 results and Q2 guide were "challenging" as it continues to struggle with developing alternative measurement tools to solve the Apple signal loss as well as being able to drive improving ROAS for its ad customers, the analyst tells investors in a research note. RBC adds that Snap’s increasing focus on further infrastructure investment to try and find new targeting measurement solutions is weighing on margins incrementally.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on SNAP:
- Snap price target lowered to $11 from $15 at Barclays
- Snap price target lowered to $7 from $8 at Goldman Sachs
- Snap internally targets Q2 revenue of $1.00B-$1.09B, consensus $1.1B
- Snap CEO says macro environment continues to be headwind to revenue growth
- SNAP Nosedives as Earnings Report Disappoints