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Benzinga
Benzinga
Business
Randy Elias

Why Snap Shares Are Falling Today

Snap Inc. (NYSE:SNAP) shares are trading lower after Cowen & Co analyst John Blackledge downgraded the stock from Outperform to Market Perform and lowered the price target from $75 to $45 per share.

Snap Inc. operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight

Snap shares are trading about 4.4% lower at $40.85 per share on Thursday at the time of publication. The stock has a 52-week high of $83.34 and a 52-week low of $38.51.

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