Deutsche Bank Downgrades Snap Inc (SNAP) to Hold

(Updated - September 11, 2017 5:51 AM EDT)

(updated to add analyst comment)

Deutsche Bank downgraded Snap Inc (NYSE: SNAP) from Buy to Hold with a price target of $17.00 (from $20.00).

Analyst Lloyd Walmsley cites "mixed checks" for reduction to H2 2017 estimates which drives the PT lower. The analyst is more conservative now on DAU growth citing seasonality. Walmsley comments "We continue to see an attractive LT opportunity given product innovation and improving ad tech. But we believe new products may take longer to improve the DAU trajectory, and note a reduced imperative for advertisers to experiment with Snap advertising."

For an analyst ratings summary and ratings history on Snap Inc click here. For more ratings news on Snap Inc click here.

Shares of Snap Inc closed at $15.34 Friday.

You May Also Be Interested In

• Q32 Bio Inc. (QTTB) PT Raised to $36 at Mizuho
• Q32 Bio Inc. (QTTB) PT Raised to $36 at Mizuho
• JPMorgan Downgrades Mebuki Financial Group Inc (7167:JP) to Neutral