Snap price target lowered to $9 from $10 at Rosenblatt

Rosenblatt analyst Barton Crockett lowered the firm’s price target on Snap to $9 from $10 and keeps a Neutral rating on the shares. The company reported a disappointing revenue and expense outlook for Q2, the analyst tells investors. While its solid user engagement and growth should help the company get back on track, Snap is becoming the "poster child" of the theme that smaller companies are struggling more than bigger ones to manage the tech and marketer environments of the post-pandemic era.