JMP Securities has decided to maintain its Market Outperform rating of Snap SNAP and lower its price target from $45.00 to $42.00.
Shares of Snap are trading down 5.52% over the last 24 hours, at $13.19 per share.
A move to $42.00 would account for a 218.42% increase from the current share price.
Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe. The firm has approximately 319 million daily active users. Snap generates nearly all its revenue from advertising with 72% coming from North America, mainly the U.S. The firm is headquartered in Venice, California.
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