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Snap: Headed To $5

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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.
As Snap (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. My previous target of $7 is lowered to $5 for a market valuation of roughly $7 billion.
Read the full article on Seeking Alpha. 

Disclosure: Long TWTR. Please review the disclaimer page for more details. 

 

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