Here’s The Surprising Way Analysts Now Feel About Snap Inc.

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The world saw SNAP debut last week and witnessed shares exploding. The debut made many people millionaires, but analysts now are bearish on the stock in the near term.

Apparently analysts are now more bearish on Snap Inc. than on any other large U.S. listed stock.

Research analysts currently have a median price target of $15.50 on SNAP shares according to FactSet. This is almost 35% less than the stock’s previous closing price of $23.77.

Here’s what some analysts had to say.

Needham entertainment and internet analyst Laura Martin wrote in a note on Monday that the stock is like a “lottery ticket.” Martin gave the stock an under-perform rating.

In the note, Martin wrote, “Sometimes lottery tickets do pay off.” However she also wrote that there’s “no clear path to profitability before 2020.”

Pivotal Research Group analyst Brian Wieser gave the stock a very bearish price target of $10 and said SNAP is overvalued.

Eddy Elfenbein, editor of the Crossing Wall Street blog said on CNBC’s “Trading Nation” on Monday that SNAP is “losing tons and tons of money. Let’s be frank: They had a great IPO. And they’re a lot better at raising money than they are at making money.”

There’s no denying that SNAP had an amazing IPO, but the future looks very uncertain for the company according to analysts.

Disclaimer: We have no position in Snap Inc. (NYSE: SNAP) and have not been compensated for this article.