HomeLifestyleEntertainmentCFRA Cuts Snap Inc.'s (SNAP) Price Target By More Than Half to $18
CFRA Cuts Snap Inc.'s (SNAP) Price Target By More Than Half to $18

Angelo Zino looks at Snap's nose dive Tuesday following the social media company flashing a 2Q earnings warning, saying it will miss estimates due to economic conditions and soaring inflation. The CFRA reduced its price target as a result by more than half to $18 from $40. Zino said they find the sharp deceleration in growth to be worrisome to the social media space. Tom White then looks at an example call spread in Snap, as well as an example put trade in Meta Platforms.

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