Shares of Snap Inc (NYSE:SNAP) fell off a cliff Wednesday, Feb. 7, as the social media company’s fourth-quarter (Q4) revenue came in shy of analyst estimates.
Snap said Q4 revenue came in at $1.361 billion, which missed the consensus estimate of $1.38 billion, according to Benzinga Pro. The company reported quarterly adjusted earnings of 8 cents per share, which beat analyst estimates of 6 cents per share.
On last check Wednesday, the stock was down Wednesday more than 35%, trading at about $11.32. Here are some key analyst takeaways:
- JPMorgan analyst Doug Anmuth maintained Underweight while raising his price target from $9 to $11 a share.
- Stifel analyst Mark Kelley has a Hold rating on the stock with a price target of $14 a share.
- Truist Securities analyst Youssef Squali reiterated a Hold rating while raising the price target from $11 to $12 a share.
- Oppenheimer analyst Jason Helfstein gave a Perform rating on the stock.
Check out other analyst stock ratings.
JPMorgan: “Results have been choppy through macro noise and the DR rebuild,” said Anmuth. Despite facing headwinds, the investment ...