RBC Capital lowered the firm’s price target on Snap (SNAP) to $8 from $10 and keeps a Sector Perform rating on the shares. The company had another mixed quarter with ongoing customer headwinds offset by strong subscription and some ad platform green shoots, the analyst tells investors in a research note. Large enterprise spend remains down y/y and between macro and Middle East weakness, it’s difficult to substantively make the case for more than a few points of acceleration, the firm added.
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Read More on SNAP:
- Snap price target lowered to $6 from $7 at JPMorgan
- Snap price target raised to $5.75 from $5.25 at Stifel
- Maria Ripps Maintains Hold on Snap, Keeps Price Target Unchanged at $6 Amid Mixed Advertising Trends
- Khajuria Reiterates Hold as Modest Growth, Macro Headwinds and Lost Partnership Leave Risk/Reward Balanced
- Justin Post Maintains Hold on Snap With Neutral Outlook and Unchanged $8 Price Target Amid Subscription Strength but Ad and User Weakness