Cantor Fitzgerald Starts Snap Inc (SNAP) at Underweight

(Updated - March 14, 2017 4:56 PM EDT)

Cantor Fitzgerald initiates coverage on Snap Inc (NYSE: SNAP) with a Underweight rating and a price target of $18.00.

Analyst Youssef Squali comments "We're initiating coverage of SNAP with an Underweight rating and $18 price target. Our rating is based on 1) the company’s current valuation, which we find rich under most scenarios; 2) an unproven model with marketers generally seeing their spend on Snap so far as experimental; 3) an untested management team; 4) slowing growth trends in DAUs and in monetization in the last couple of quarters; and 5) an intense competitive landscape with fast followers who enjoy greater scale in consumer reach, R&D and brand. Snap Inc. is a recent IPO, which was priced on 3/1/17 at $17/share."

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 $21.09 yesterday.

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