Goldman Sachs Downgrades Snap Inc (SNAP) to Neutral

Goldman Sachs analyst Heath Terry downgraded Snap Inc (NYSE: SNAP) from Buy to Neutral with a price target of $6.00 (from $10.00).

Terry cites user-growth concerns for stepping to the sidelines. he is expecting sequential user declines to likely continue in Q4 citing company guidance and recent third-party research data along with the timing and potential effectiveness of SNAP's Android App redesign in the near-to-medium term given "significant competition."

For an analyst ratings summary and ratings history on Snap Inc click here. For more ratings news on Snap Inc click here.

Shares of Snap Inc closed at $5.68 yesterday.

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