SunTrust Robinson Remains a Sell on Snap Inc

By Jason Carr

SunTrust Robinson analyst Youssef Squali reiterated a Sell rating on Snap Inc (NASDAQ: SNAP) on October 9 and set a price target of $10. The company’s shares opened today at $16.07.

According to TipRanks.com, Squali is a top 100 analyst with an average return of 19.2% and a 73.3% success rate. Squali covers the Technology sector, focusing on stocks such as Endurance International, Rubicon Project, and Paypal Holdings.

Currently, the analyst consensus on Snap Inc is Hold and the average price target is $15.07, representing a -6.2% downside.

In a report issued on October 5, Needham also reiterated a Sell rating on the stock.

Based on Snap Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $182 million and GAAP net loss of $443 million. In comparison, last year the company earned revenue of $128 million and had a GAAP net loss of $124 million.

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Snap, Inc. engages in the operation of its camera platform. It is also involved in the provision of advertising by helping its partners generate a return on their investment by creating engaging advertising products. Its products include Snapchat, Publisher Tools, and Spectacles.