Brocker.Org: One more Wall Street analyst joins chorus against Snapchat

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Equity expense business Cantor Fitzgerald initiated protection on Snap as “underweight” Tuesday, expressing the social media company has the potential to be the next Fb — or the next Twitter.

Shares of the Snapchat mother or father company ended up down much more than two percent in premarket buying and selling on Wednesday.

“Sequential DAU and monetization development throughout 2017 will be essential in analyzing the development curve of Snapchat, and no matter if it really is much more very likely to mimic Fb in its person/advertiser enchantment or Twitter,” Cantor’s Youssef Squali stated in a take note to buyers, offering the company a price tag target of $eighteen.

Cantor also stated it primarily based the score on the firm’s recent valuation, which it stated was “prosperous less than most situations,” an “unproven design with marketers,” and an untested management crew.

The social media platform has experienced combined reactions from Wall Street and has however to get a “acquire” score from any analyst detailed in FactSet.

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