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Why Some Analysts Think Snap Is a $5 Candidate

Naomi Gray
Why Some Analysts Think Snap Is a $5 Candidate

Since Snap (SNAP) reported audience growth that missed consensus estimates for the second quarter, there has been little consensus on Wall Street on what lies ahead for the company. Facebook (FB) has replicated some distinctive Snapchat features in its apps such as Instagram, cutting Snapchat’s competitive advantages. BTIG recently downgraded its rating on Snap stock to “sell” from “neutral,” saying that Snap is struggling to monetize its platform at a time when product innovation has been lacking.