5 Stocks Getting Crushed on Tuesday

4. Snap Inc. (NYSE:SNAP) is 3.64% in the red as of 12:12 PM ET after the target price of the multimedia instant messaging application was revised down from $40 to $34 by Ygal Arounian at Wedbush. The target provides a modest potential upside of 13.67% from the last closing price. Ygal highlighted that the massive popularity of TikTok is shaping trends for social media companies globally. The analyst viewed Snap Inc.’s (NYSE:SNAP) earnings results as mixed because the company was unable to achieve the consensus revenue estimates for Q1 2022.

During Q2 2022, Bailard Inc was long over 25,982 shares of Snap Inc. (NYSE:SNAP). Of the 924 hedge funds in Insider Monkey’s database, Snap Inc. (NYSE:SNAP) was held by 55 funds as of Q4 2021.