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SNAP

Snap

$8.22

0.045 (0.55%)

07:28
10/04/18
10/04
07:28
10/04/18
07:28

Snap price target lowered to $7 on decelerating trends at Evercore ISI

Evercore ISI analyst Anthony DiClemente lowered his price target for Snap to $7 from $9 given decelerating trends, management turnover, and competitive threats. The analyst anticipates another quarter of sequential DAU declines, as competitive pressure in the wake of Snap's app redesign along with the seasonally weak Q3, drive DAUs lower by 1M quarter over quarter. Further, DiClemente believes that competition, particularly from Facebook's (FB) Instagram is "irreversibly" reducing Snap's opportunity to deliver on long-term investor expectations. He reiterates an Underperform rating on Snap's shares.

  • 07

    Nov

SNAP Snap
$8.22

0.045 (0.55%)

09/25/18
RHCO
09/25/18
NO CHANGE
RHCO
Hold
Snap partnership positive but unlikely to lead to Amazon takeover, says SunTrust
SunTrust analyst Youssef Squali noted that NYU professor Scott Galloway opined in an LA Times article that Snap's (SNAP) newly-announced partnership with Amazon (AMZN) could lead to an acquisition, but the analyst does not believe Amazon is a likely suitor for Snap for "a whole host of reasons." Among those, Squali said Amazon's ad business is already much larger than Snap's and an acquisition of a "challenged social platform would be distracting." Also, he believes the two companies "could not be any more different" culturally and notes that an acquisition of this type and size would be "unprecedented" for the e-commerce giant. While he sees the agreement as a win-win relationship and a positive for Snap, Squali maintains his Hold rating on the photo app owner's shares.
09/25/18
JPMS
09/25/18
NO CHANGE
JPMS
Overweight
JPMorgan sees 'meaningful pressure' on Facebook shares from Instagram departures
JPMorgan analyst Doug Anmuth says the "surprising" departure of Instagram co-founders Kevin Systrom and Mike Krieger is concerning and likely to put "meaningful pressure" on shares of Facebook (FB) in the near-term. The analyst believes Instagram has been a strong growth driver for Facebook and has played a critical role in retaining younger users within the company's group of platforms and in competing with Snap (SNAP). While the exact rationale for the co-founders' departure is unclear, various press reports suggest it is related to Facebook management recently exerting more control over Instagram, Anmuth tells investors in a research note. The analyst has an Overweight rating on Facebook. The stock in premarket trading is down 2%, or $3.71, to $161.70.
09/13/18
09/13/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. MORGAN STANLEY CUTS FINISAR, CIENA TO EW: Morgan Stanley analyst Meta Marshall downgraded both Finisar (FNSR) and Ciena (CIEN) to Equal Weight from Overweight, as she adjusted her Optical Scorecard following the earnings reports from companies in the sector. The two stocks have closed the short-term valuation gaps that she previously believed existed with their respective moves up, Marshall said. The analyst added that she is being cautious ahead of Ciena's FY19 guidance, though she raised her price target on the stock to $32 from $30. Marshall, who kept a $20 price target on Finisar shares, said she thinks its catalysts don't come until calendar 2019. The analyst also noted that she is now Equal Weight on the space as a whole, as she also has Equal Weight ratings on Lumentum (LITE), II-VI (IIVI) and Acacia Communications (ACIA). BOFA CUTS WAYFAIR TO NEUTRAL: BofA Merrill Lynch analyst Askshay Bhatia downgraded Wayfair (W) to Neutral from Buy and raised its price target to $160 from $130. Bhatia believes growth is likely to decelerate ahead and sees increasing investments into 2019. Combining that with shares that are up 86% year-to-date leaves little room for further upside, the analyst added. SNAP UPPED TO HOLD FOLLOWING SELLOFF: Pivotal Research analyst Brian Wieser upgraded Snap (SNAP) to Hold from Sell with an unchanged price target of $9. Risks are still present, especially in the near-term, but current trading levels balance those risks with the company' long-term potential, Wieser said. Risks include "aggressive competition from much larger companies," a core user base that is "not growing by much and is only relatively elusive," and a "sub-optimal corporate structure," according to the analyst. BERNSTEIN STARTS NIO WITH UNDERPERFORM: Bernstein analyst Robin Zhu started coverage of NIO Inc. (NIO) with an Underperform rating and $4.20 price target. While the analyst is intrigued by many things, from its impressive branding to its massive volume ambitions, he is unconvinced NIO's shares represent a sound investment. Further, Zhu is skeptical the Chinese electric carmaker can achieve its volume targets. FBN STARTS AMD WITH OUTPERFORM: FBN Securities analyst Shelby Sayrafi initiated coverage of AMD (AMD) with an Outperform rating and $40 price target. AMD currently has a "strong" new product cycle driven by its Zen architecture, fifth generation graphics chips and EPYC processors for the enterprise server market that are "all ramping well currently," Sayrafi said. The analyst believes the EPYC server chip could help AMD penetrate the $16B server chip market.
09/13/18
09/13/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Snap (SNAP) upgraded to Hold from Sell at Pivotal Research with analyst Brian Wieser saying risks are still present, especially in the near-term, but current trading levels balance those risks with the company' long-term potential. 2. DaVita (DVA) upgraded to Neutral from Underweight at JPMorgan with analyst Gary Taylor saying he now believes is it much more likely that California Governor Brown will veto the recently passed SB1156, which he notes would curtail the financial arbitrage that dialysis providers enjoy from charitable premium assistance. 3. Intel (INTC) upgraded to Market Perform from Underperform at Northland with analyst Auguste Richard saying the stock has corrected 23% from its 52-week high and is down 20% since mid-June. 4. Magna (MGA) upgraded to Outperformer from Neutral at CIBC. 5. Flowserve (FLS) upgraded to Buy from Neutral at Northcoast. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

AMZN

Amazon.com

$1,791.82

16.72 (0.94%)

06:20
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Amazon beats IRS appeal in U.S. tax dispute, Reuters reports »

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ARMK

Aramark

$37.07

-0.07 (-0.19%)

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AMGN

Amgen

$203.95

4.74 (2.38%)

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POL

PolyOne

$31.01

0.73 (2.41%)

06:18
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PolyOne to sell PP&S business to SK Capital Partners for $775M in cash »

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CNHI

CNH Industrial

$8.82

0.18 (2.08%)

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ENLC

EnLink Midstream

$7.74

0.19 (2.52%)

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HEP

Holly Energy Partners

$27.48

0.31 (1.14%)

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NVS

Novartis

$89.46

0.91 (1.03%)

06:17
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Novartis to respond to demand for data manipulation details, Reuters says »

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GOOG

Alphabet

$1,176.94

9.48 (0.81%)

, GOOGL

Alphabet Class A

$1,178.69

9.68 (0.83%)

06:15
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Google cuts some Android phone data for wireless carriers, Reuters reports »

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GOOG

Alphabet

$1,176.94

9.48 (0.81%)

GOOGL

Alphabet Class A

$1,178.69

9.68 (0.83%)

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  • 24

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EWBC

East West Bancorp

$39.90

1.52 (3.96%)

06:15
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ARMK

Aramark

$37.07

-0.07 (-0.19%)

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SONO

Sonos

$11.90

0.22 (1.88%)

06:13
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VWAGY

Volkswagen

$0.00

(0.00%)

06:13
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Volkswagen, SEC ordered to seek settlement on fraud allegations, WSJ reports »

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WLL

Whiting Petroleum

$8.61

0.36 (4.36%)

06:12
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APD

Air Products

$228.77

2.32 (1.02%)

06:12
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  • 22

    Aug

EADSY

Airbus

$0.00

(0.00%)

06:11
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Airbus using AI to save millions on finance tasks, WSj reports »

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  • 03

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CSTL

Castle Biosciences

$20.14

-0.56 (-2.71%)

06:10
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Initiation
Castle Biosciences initiated  »

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CSTL

Castle Biosciences

$20.14

-0.56 (-2.71%)

06:08
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WE

We Company

$0.00

(0.00%)

06:08
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Hundreds of landlords exposed to WeWork via rental commitments, FT says »

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PDS

Precision Drilling

$1.10

(0.00%)

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Precision Drilling sees FY20 CapEx C$60M-C$80M »

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MA

MasterCard

$274.24

2.4 (0.88%)

, FB

Facebook

$183.42

0.78 (0.43%)

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MasterCard putting together cryptocurrency team, NY Post reports »

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MA

MasterCard

$274.24

2.4 (0.88%)

FB

Facebook

$183.42

0.78 (0.43%)

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CSTL

Castle Biosciences

$20.14

-0.56 (-2.71%)

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PDS

Precision Drilling

$1.10

(0.00%)

06:03
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Precision Drilling lowers FY19 CapEx view to C$144M from C$169M »

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RRC

Range Resources

$4.10

0.07 (1.74%)

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BSX

Boston Scientific

$42.15

0.28 (0.67%)

06:03
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Boston Scientific acquisition of BTG expected to be immaterial to FY19 adj. EPS »

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