Information
Snap Inc. SNAP shares are trading lower following fourth-quarter financial results reported on Tuesd...
Original sourceAI Summary
Snap reported Q4 earnings of 16 cents, beating estimates of 14 cents. Quarterly revenue of $1.55 billion surpassed the $1.54 billion forecast. JP Morgan lowered its price target from $11 to $10, maintaining an Underweight rating. BofA raised its price forecast from $14 to $14.5, keeping a Neutral stance. Wells Fargo downgraded Snap from Overweight to Equal-Weight, lowering target from $15 to $11.
Sentiment Rationale
Analysts' target cuts and downgrades indicate negative sentiment towards SNAP's outlook, specifically from JP Morgan and Wells Fargo. This behavior often signals market concern over growth prospects.
Trading Thesis
The reactions from analysts are based on recent earnings, indicating immediate market response. Such changes can lead to quick price adjustments in SNAP.
Market-Moving
- Snap reported Q4 earnings of 16 cents, beating estimates of 14 cents.
- Quarterly revenue of $1.55 billion surpassed the $1.54 billion forecast.
- JP Morgan lowered its price target from $11 to $10, maintaining an Underweight rating.
Key Facts
- Snap reported Q4 earnings of 16 cents, beating estimates of 14 cents.
- Quarterly revenue of $1.55 billion surpassed the $1.54 billion forecast.
- JP Morgan lowered its price target from $11 to $10, maintaining an Underweight rating.
- BofA raised its price forecast from $14 to $14.5, keeping a Neutral stance.
- Wells Fargo downgraded Snap from Overweight to Equal-Weight, lowering target from $15 to $11.
Companies Mentioned
- SNAP (SNAP)
- RVER (RVER)
- SOCL (SOCL)
Earnings
The article directly impacts SNAP’s market evaluation with earnings data and analyst revisions. These factors are likely to influence investor actions and shareholder sentiment.