Snap continues to face incredible competition from Instagram that even challenges the dominance in the under 18 crowd.
The stock currently trades at a higher EV/S multiple in comparison to dominant peers.
Snap price target lowered from $7 to $5.
AsSnap(SNAP) falls to new lows, investors need to understand that the stock doesn't offer any value. This isn't a stock to buy on dips other than for a quick dead-cat bounce. Myprevious targetof $7 is lowered to $5 for a market valuation of roughly $7 billion.