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.
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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.

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Created on Feb 25th 2018 23:10. Viewed 626 times.


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