Snap Inc. (SNAP) shares fell more than 2% during early trading on Wednesday as traders took profits following the stock's rise of more than 120% since the beginning of the year. While the company may finally be gaining some traction after a rough two years, many analysts remain cautious given the rapid increase in price and execution risk. RBC Capital responded to these announcements by upgrading Snap shares to Outperform with a price target of $17.00 per share last week, saying that the company was finally gaining traction with Android. Read More...
Snap Stock Falls From Overbought Levels
Snap Inc. (SNAP) shares fell more than 2% during early trading on Wednesday as traders took profits following the stock’s rise of more than 120% since the beginning of the year. While the company may finally be gaining some traction after a rough two years, many analysts remain cautious given the rapid increase in price and execution risk. RBC Capital responded to these announcements by upgrading Snap shares to Outperform with a price target of $17.00 per share last week, saying that the company was finally gaining traction with Android.
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