Shares of Snap Inc (NYSE: SNAP) were trading lower on Wednesday after the company’s third-quarter revenue beat and stock buyback announcement.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the earnings release.
RBC Capital Markets On Snap
Analyst Brad Erickson maintained a Sector Perform rating, while raising the price target from $9 to $10.
Snap’s third-quarter results were mixed, with the positives being the company’s solid revenue beat and ad tech improvement, Erickson said in a note.
“Less positively, growth rates remain well below the market even including inorganic subscription and while the war is impeding visibility, the company's reacceleration appears to be meaningfully lagging competitors leaving the same lingering question of whether SNAP get back to capturing marginal advertiser dollars in a more difficult macro,” the analyst wrote.
BofA Securities On Snap
Analyst Justin Post reiterated a Neutral rating and price target ...