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.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on SNAP: