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SNAP

Snap

$14.60

-0.05 (-0.34%)

07:04
01/12/18
01/12
07:04
01/12/18
07:04

Snap downgraded to Underperform, shares 'overvalued,' says Raymond James

As previously reported, Raymond James downgraded Snap to Underperform from Market Perform. Analyst Aaron Kessler said Snap is largely a Chat/Message app and not a camera company as it refers to itself. Historically, chat and messaging apps do not monetize well as News Feeds, the analyst wrote, and he expects the company to struggle to gain momentum with its Discover platform. Additionally, Kessler's checks indicate the platform is still experimental and user growth will likely remain challenging. Kessler contends Snap is an "overvalued" chat company given recent execution issues, structural challenges, and competitive concerns,

  • 23

    Jan

  • 06

    Feb

  • 07

    Feb

SNAP Snap
$14.60

-0.05 (-0.34%)

01/08/18
JEFF
01/08/18
DOWNGRADE
Target $15
JEFF
Hold
Snap downgraded to Hold from Buy at Jefferies
Jefferies analyst Brent Thill downgraded Snap to Hold with an unchanged price target of $15. The camera company closed Friday down 9c to $14.50. The analyst continues to have optimism around Snap's platform, but believes "fundamental execution needs to be shown" before he can be more positive on the name. Some negatives behind the app redesign could "lead to some turbulence in usage and adoption when rolled out," Thill tells investors in a research note. The analyst views the shares, currently trading at 18 times his 2018 revenue estimate, as fully valued.
01/08/18
SBSH
01/08/18
NO CHANGE
SBSH
Citi Q4 checks positive for Facebook and Twitter, mixed for Snap
Citi analyst Mark May says his early Q4 channel checks with two social marketing platforms, 4C Insights and Kenshoo, are positive for both Facebook (FB) and Twitter (TWTR) and mixed for Snap (SNAP). Jefferies this morning downgraded Snap to Hold from Buy. Citi's checks suggest that growth in spend across the Facebook platform remains strong and that the company's Q4 revenue could exceed consensus forecasts, May tells investors in a research note. 4C's data also suggests potential upside to Twitter (TWTR) revenue forecasts, and "potential disappointing revenue results" from Snap, May adds. While 4C just started supporting Snapchat in the second half of 2016, making its year-over-year unreliable, its data show client spend on the platform increased 22% sequentially Q4 as compared with 38% sequential growth in Q3, the analyst adds. He believes this suggests a potential Q4 revenue miss from Snap.
01/08/18
01/08/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. GoPro (GPRO) downgraded to Neutral from Buy at Longbow with analyst Joe Wittine saying his channel checks confirmed the holidays missed the company's plan and late quarter $100 price cuts were not enough to save the quarter. 2. Snap (SNAP) downgraded to Hold from Buy at Jefferies with analyst Brent Thill saying he continues to have optimism around Snap's platform, but believes "fundamental execution needs to be shown" before he can be more positive on the name. 3. Cirrus Logic (CRUS) downgraded to Sector Weight from Overweight at KeyBanc with analyst John Vinh citing his "disappointment" with the current iPhone cycle and the lack of meaningful content gains until 2019. 4. Pandora (P) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Benjamin Swinburne noting that the company's core free product has not evolved meaningfully and faces continued innovation by Spotify, Apple (AAPL) and Amazon (AMZN) while also being pressured by free music available on Google's (GOOG) YouTube. 5. GrubHub (GRUB) downgraded to Neutral from Outperform at Wedbush with analyst Aaron Turner saying that while he continues to like the company's market opportunity and competitive positioning, the current peak valuation of shares accurately reflects these positive dynamics. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/12/18
RAJA
01/12/18
DOWNGRADE
RAJA
Underperform
Snap downgraded to Underperform from Market Perform at Raymond James

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TTM

Tata Motors

$22.39

-0.52 (-2.27%)

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JEF

Jefferies Financial Group

$23.47

-0.045 (-0.19%)

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08:03
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Conference/Events
Deutsche Bank to hold a conference »

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CEMI

Chembio Diagnostics

$8.70

-0.1 (-1.14%)

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  • 29

    May

FHB

First Hawaiian

$28.94

0.07 (0.24%)

08:03
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Conference/Events
First Hawaiian management to meet with Deutsche Bank »

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  • 24

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08:02
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Conference/Events
Jefferies to hold a conference »

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Morgan Stanley to hold a symposium »

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MYO

Myomo

$3.28

-0.02 (-0.61%)

08:02
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Myomo announces MyoPro availability in 16 new U.S. locations »

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SKY

Skyline

$29.22

-0.56 (-1.88%)

08:01
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05/24
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08:01
Initiation
Skyline initiated  »

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BX

Blackstone

$31.79

-0.08 (-0.25%)

08:01
05/24/18
05/24
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Conference/Events
Detroit Economic Club to hold a luncheon »

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  • 24

    May

  • 30

    May

WHR

Whirlpool

$164.63

0.3 (0.18%)

08:01
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Hot Stocks
Whirlpool announces preliminary results of modified Dutch auction tender offer »

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  • 05

    Jun

HFC

HollyFrontier

$73.67

0.75 (1.03%)

08:00
05/24/18
05/24
08:00
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08:00
Recommendations
HollyFrontier analyst commentary  »

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JD

JD.com

$36.72

0.35 (0.96%)

08:00
05/24/18
05/24
08:00
05/24/18
08:00
Options
JD.com call buyer realizes 1% same-day gains »

Notable profits for the…

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UNP

Union Pacific

$144.26

1.36 (0.95%)

07:59
05/24/18
05/24
07:59
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07:59
Initiation
Union Pacific initiated  »

Union Pacific resumed…

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  • 13

    Jun

NCR

NCR Corp.

$30.75

-0.4 (-1.28%)

07:58
05/24/18
05/24
07:58
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07:58
Recommendations
NCR Corp. analyst commentary  »

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07:55
05/24/18
05/24
07:55
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07:55
Conference/Events
Federal Reserve Bank of Philadelphia President speaks at a conference »

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MCRB

Seres Therapeutics

$8.12

0.16 (2.01%)

07:55
05/24/18
05/24
07:55
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07:55
Conference/Events
Seres Therapeutics to hold a research and development day »

Microbiome Research &…

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  • 24

    May

  • 02

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OKTA

Okta

$49.49

0.99 (2.04%)

07:52
05/24/18
05/24
07:52
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07:52
Recommendations
Okta analyst commentary  »

Okta price target raised…

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  • 24

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INTU

Intuit

$196.15

5.74 (3.01%)

07:51
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07:51
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Intuit analyst commentary  »

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  • 12

    Jun

CIT

CIT Group

$55.27

-0.06 (-0.11%)

07:51
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CIT Group announces preliminary results of cash tender offer for common stock »

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EDU

New Oriental Education

$101.38

4.82 (4.99%)

07:50
05/24/18
05/24
07:50
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07:50
Downgrade
New Oriental Education rating change  »

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  • 10

    Sep

TAL

TAL Education

$43.74

1.11 (2.60%)

07:50
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07:50
Upgrade
TAL Education rating change  »

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07:48
05/24/18
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Conference/Events
Federal Reserve Bank of Atlanta president delivers opening remarks at conference »

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DRI

Darden

$85.72

-0.23 (-0.27%)

07:47
05/24/18
05/24
07:47
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07:47
Recommendations
Darden analyst commentary  »

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  • 10

    Jul

PBR

Petrobras

$15.10

-0.6 (-3.82%)

07:46
05/24/18
05/24
07:46
05/24/18
07:46
Downgrade
Petrobras rating change  »

Petrobras downgraded to…

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