Edgewater sees ‘low bar’ for Snap heading into Q2

Edgewater Research believes consensus estimates are “setting a low bar” for Snap‘s (SNAP) Q2. The firm keeps a Neutral rating on the shares. The company is seeing continued progress with Direct Response, which is encouraging, but this is being “capped” by lingering macro concerns, the firm tells investors in a research note. Edgewater models Q2 revenue of $1.362B, above the consensus estimate of $1.343B. It sees “both clear positives and clear negatives” into the quarter, finding it “difficult to pick a side.”