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Out of 7 analysts polled by TipRanks in the last 3 months, 2 remain sidelined on Snap stock and 5 are bearish.
The 12-month average price target stands at $8.31, marking a 2% upside from where the stock is currently trading.
With a loss potential of 26%, the stock’s consensus target price stands at $17.50.
Based on 12 analysts polled by TipRanks in the last 3 months, 5 maintain a Hold on GoPro stock while 7 issue a Sell.
Analysts from Needham as well as from Goldman Sachs are indicating bearish forecasts on Snap Inc (NYSE:SNAP) and GoPro Inc (NASDAQ:GPRO), with shares for both companies on the downturn this week.
Snap has offered shares without voting rights to the public as it does not intend to dilute its decision making power.
This group of investors isn’t happy with the company’s offering of 200 million Class A shares that carry no voting rights.
Investors argue that the absence of voting rights completely bars a shareholder from speaking on the issues like company’s growth plans or compensation shelled out to executives.
She further added that “What we would like to see at the least is for the indexes to exclude new no-vote companies.”
Snap will have a three-tier share structure and founders Evan Spigel and Bobby Murphy will have the maximum voting rights through the ownership of Class C shares, which carry 10 votes per share.
Snap Inc (SNAP) Stock: Stay Away at All Costs!
Snap Inc (NYSE: SNAP ), the parent of photo-based social network Snapchat, opened its publicly traded life more than 40% higher last Thursday, and SNAP stock gained another 10%-plus on Friday.
If you’re thinking about buying SNAP stock, now might be the worst possible time.
But Monday saw a 12% dip, and it looks like Tuesday is going to show some weakness in Snapchat stock as well.
But traders looking to get a stake in Snap Inc have plenty of tech IPO history to consider.
History Is Not on the Side of SNAP StockThe Snapchat IPO has been one of the biggest and most highly anticipated tech IPOs in years.