Snap Inc (SNAP) PT Lowered to $12 at UBS Following 2Q Miss
UBS lowered its price target on Snap Inc (NYSE: SNAP) to $12.00 (from $19.00) while maintaining a Neutral rating following the company's 2Q. SNAP reported revenue and adjusted EBITDA missing consensus by $5m and $10m respectively.
UBS cut 3Q revenue estimates to $257m from $291m. Adjusted EBITDA of $(200)m was cut from $(190)m. EPS was lowered to $(0.32) from $(0.29).