Snap Is Tech’s Black Sheep Again as Analysts Slash Expectations
Snap has fallen 8.1 percent over the past two trading days, the worst performer in the S&P Software & Services Select Industry Index over the period. The slide began after disappointing user and advertising revenue growth led Cowen Inc. analyst John Blackledge to cut his revenue forecasts for the Los Angeles-based social network for the next six years. Blackledge, who rates Snap the equivalent of a sell, said that a Cowen survey suggested that users were spending less time on the app.
Source:: https://finance.yahoo.com/news/snap-techs-black-sheep-again-173922718.html
