Glonghui, Feb. 8 | Citi released a report stating that although Snap's performance in the last quarter was mixed, the company's guidance for the first quarter of this year fell short of expectations. The company's revenue in the last quarter increased 4.7% year-on-year. Among these, Direct Response (DR) advertising revenue and the growth of Snapchat+ were offset by adverse factors brought about by the Middle East conflict. The bank is optimistic that the company will reach 800 million monthly active users and that the scale of Snapchat+ will continue to grow. The bank believes that although Snap's revenue visibility is still limited, the target price was lowered from $18 to $14 as its monetization capacity increases and the recent 10% layoff of employees will bring opportunities for the company to expand its gross profit and maintain its “neutral” rating.
大行评级｜花旗：下调Snap目标价至14美元 维持“中性”评级
Big Bank Rating | Citibank: Lowering Snap's Target Price to $14 to Maintain a “Neutral” Rating
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