The previous price target that the analyst had for SNAP stock was $20.
Anmuth’s reasons for lowering JPMorgan’s price target for Snap Inc have to do with being careful.
He is expecting losses of 68 cents in fiscal 2017, 44 cents in fiscal 2018 and 13 cents in fiscal 2019.
Source: SnapJPMorgan analyst Doug Anmuth lowered his price target for Snap Inc to $18.
Snap Inc (NYSE:SNAP) stock was down on Monday following a price cut from JPMorgan.
Is Snap Inc (SNAP) Stock a Worthwhile Investment?
SNAP Stock Looked GoodLike many other social media firms, Snapchat tracks several user metrics across its global user base.
Hosting costs per user are about $0.60, so there is work to do to get to profitability across the global user base.
By the end of 2014, SNAP had raised $485 million from eponymous venture capital firm Kleiner Perkins Caufield & Byers.
It rose from $39 million in last year’s quarter to a recent $150 million.
It tracks daily active users (DAUs), monthly active users (MAUs), as well as the average revenue per user (ARPU).
Snap Inc (SNAP) Stock Is Disappearing Along With Its Users
But regarding SNAP stock, there are serious fundamental issues to keep in mind.
Considering this, JPM also reduced the price target on SNAP stock from $20 to $18.
His rating on SNAP stock is “reduce” and the price target is at $14.
On the news of the earnings, SNAP stock lost a grueling 18%.
According to a report from Bloomberg, Snap Inc (NYSE: SNAP ) is this year’s most shorted tech initial public offering.
collected by :John Locas