What's Going On With Snap Stock?
Portfolio Pulse from Ryan Gustafson
Snap Inc. (NYSE:SNAP) shares traded lower on Wednesday despite UBS analyst Lloyd Walmsley maintaining a Neutral rating and raising the price target from $10 to $14. This follows price target increases from Goldman Sachs and Credit Suisse earlier this week. Snap is expected to report a loss of 4 cents per share on quarterly revenue of $1.05 billion in its upcoming Q2 financial results.
July 19, 2023 | 9:47 pm
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Despite positive analyst ratings and raised price targets, Snap's stock traded lower. The company is expected to report a Q2 loss.
The stock traded lower despite positive analyst ratings and raised price targets, indicating that the market may be anticipating a Q2 loss. This could potentially lead to a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100