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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.
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