Snap's Ad Revenue Growth Rates in 2023 and 2024 Likely to Lower Due to Challenging Environment, Analyst Says, While Cutting Targets by 25%

by , editor of Benzinga

October 11, 2022 2:48 p.m. | 1 minute read

Snap's ad revenue growth rates in 2023 and 2024 are likely to decline due to a challenging environment, according to a analyst, while reducing targets by 25%

Snap's 2023 and 2024 ad revenue growth rates likely to decline due to challenging environment, analyst says, while slashing targets by 25%

Credit Suisse analyst Stephen Ju lowered Snap Inc's SNAP price target to $22 from $29 and reiterated an outperform rating on stocks ahead of quarterly results. Its recent audits indicate an improvement in digital advertising trends for the third quarter compared to the second. While many of the verticals where Snap is most exposed underperformed the broader online advertising environment during the quarter, others continue to be impacted by inflation and the supply chain. His main concerns for Snap aren't necessarily the second half of 2022 but 2023, as his memo titled "Undergoing challenging environment for sharing capture" shows.

  Business   Oct 11, 2022   0   63  Add to Reading List
Snap's Ad Revenue Growth Rates in 2023 and 2024 Likely to Lower Due to Challenging Environment, Analyst Says, While Cutting Targets by 25%

by , editor of Benzinga

October 11, 2022 2:48 p.m. | 1 minute read

Snap's ad revenue growth rates in 2023 and 2024 are likely to decline due to a challenging environment, according to a analyst, while reducing targets by 25%

Snap's 2023 and 2024 ad revenue growth rates likely to decline due to challenging environment, analyst says, while slashing targets by 25%

Credit Suisse analyst Stephen Ju lowered Snap Inc's SNAP price target to $22 from $29 and reiterated an outperform rating on stocks ahead of quarterly results. Its recent audits indicate an improvement in digital advertising trends for the third quarter compared to the second. While many of the verticals where Snap is most exposed underperformed the broader online advertising environment during the quarter, others continue to be impacted by inflation and the supply chain. His main concerns for Snap aren't necessarily the second half of 2022 but 2023, as his memo titled "Undergoing challenging environment for sharing capture" shows.

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