Advertisement
Canada markets closed

  • S&P/TSX

    21,969.24
    +83.86 (+0.38%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CAD/USD

    0.7316
    -0.0007 (-0.09%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • Bitcoin CAD

    86,115.45
    -2,147.45 (-2.43%)
     

  • CMC Crypto 200

    1,304.48
    -92.06 (-6.59%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • RUSSELL 2000

    2,002.00
    +20.88 (+1.05%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • NASDAQ

    15,927.90
    +316.14 (+2.03%)
     

  • VOLATILITY

    15.03
    -0.34 (-2.21%)
     

  • FTSE

    8,139.83
    +60.97 (+0.75%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • CAD/EUR

    0.6838
    +0.0017 (+0.25%)
     

Snapchat Stock Falls Ahead of Earnings But KeyBanc Ups Price Target

Investing.com
·1 min read

By Sam Boughedda

Investing.com — Snap Inc (NYSE:SNAP) shares slid 4.1% Monday ahead of its third-quarter earnings release.

In a week where earnings are starting to heat up, Snapchat will report its Q3 numbers on Thursday ahead of the opening bell.

Before today's fall, KeyBanc analyst Justin Patterson raised his price target on the stock. In a note to investors on Sunday evening, Patterson raised the firm's price target on Snap to $90 from $88, keeping an overweight rating on the shares ahead of the company's results.

The analyst said he expects positive estimate changes to continue due to the company's "unique position," with ad spend maintaining its increase along with the cost per impression.

ADVERTISEMENT

A 50%-plus annual revenue growth "appears increasingly likely" for Snapchat, said Patterson.

In addition, the analyst believes Snap will provide Q4 revenue guidance above market expectations. It is currently at 47% year-over-year growth.

Related Articles

Snapchat Stock Falls Ahead of Earnings But KeyBanc Ups Price Target

International travel searches spike after U.S. moves to ease curbs - Kayak

Medtronic vs. Insulet: Which Diabetes Stock is a Better Choice?