RevPages
Snap’s Analyst Rating Slips
by Forbes Middle East Forbes Middle East - Business News
Citigroup analysts reportedly downgraded Snap Inc. from neutral to sell after more than 1.2 million Snapchat users signed a petition against a wildly unpopular recent app update.
Recommended Features
- Citigroup
- Evan Spiegel
- Raymond James
- Snapchat
Review on Snap’s Analyst Rating Slips
It presented a target price of $14 for the stock. This comes two weeks after Snap Inc. released its fourth quarter earnings, which beat Wall Street expectations.While the recent redesign of its flagship app could produce positive long-term benefits, the significant jump in negative app reviews since the redesign was pushed out a few weeks could result in a decline in users and user engagement, which could negatively impact financial results, Citigroup analysts Mark May and Hao Yan wrote in a note to clients on Tuesday.
Related to Snap’s Analyst Rating Slips
Sponsor Ads
About Forbes Middle East 
Forbes Middle East - Business News
103 connections, 0 recommendations, 247 honor points.Joined APSense since, December 7th, 2017, From Dubai, United Arab Emirates.
Created on Feb 25th 2018 23:10. Viewed 1,025 times.
Comments
No comment, be the first to comment.
