These Analysts Lower Price Targets On Snap After Weak Q2 Earnings

Snap Inc. SNAP  shares dipped 29% to $11.62 in pre-market trading after the company reported worse-than-expected Q2 results, announced a reduction in the hiring rate and did not provide guidance.

Several analysts made changes to their price targets on Snap following the release of results.

• Citigroup lowered price target on the stock from $29 to $16.
• RBC Capital lowered Snap price target from $17 to $10.
• Barclays cut the price target on the stock from $20 to $15.
• Rosenblatt lowered the price target from $23 to $14.
• JMP Securities lowered Snap price target from $42 to $24.
• Benchmark cut the price target on the stock from $20 to $15.
• Credit Suisse lowered Snap price target from $45 to $35.
• Evercore ISI Group cut the price target on the stock from $26 to $14.
• Piper Sandler lowered Snap price target from $18 to $11.
• Stifel cut the price target on the stock from $20 to $14.
• Goldman Sachs lowered Snap price target from $25 to $12.
• Atlantic Equities cut the price target on the stock from $18 to $13.