Snap stock (NYSE:SNAP) is 5% lower today after getting its second downgrade of the young new year.
We should point out though it’s also drawn a higher price target from one analyst who sees some budget positivity.
Last week, Cowen cut Snap to Neutral and trimmed its price target slightly.
Now Jefferies has cut to Hold from Buy, noting the stock has hit their $15 price target and while they’re still optimistic about the platform, it needs more fundamental execution, while Facebook is still a clear leader.
Meanwhile, Credit Suisse has boosted its price target to $18 from $17, implying 30% upside from today’s lower price.
Quad 7 Capital previously covered Snap and its IPO and has held a sell rating on the name with a $12 down side price target.
We want you to join our community
Benefits of signing up for a FREE membership now:
-No more costly delays in waiting for material
-Dozens of publications per week, including news coverage, earnings commentary, analysis, politics, and more
-Access to special guest contributions, including from WSJ, CNBC, and prolific SA authors
–Ability to comment on articles
–Access to our weekly newsletter
-Publish your own opinion/analysis
Thank you for your readership, and for your loyalty.
Not interested? We understand. However, you will miss out on the insights we have provided over the years, that helped drive us to the NUMBER ONE AUTHOR on long ideas on the Seeking Alpha Platform,