Guggenheim analyst Michael Morris lowered the firm’s price target on Snap to $9 from $12 and keeps a Neutral rating on the shares on lower estimates after the company’s Q1 report. Management expressed optimism that a more diverse set of advertisers is now finding success on platform, but internal forecasts for Q2 point to revenue and adjusted EBITDA performance below consensus, the analyst tells investors.
Published first on TheFly
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