Analysts Are Downgrading These 5 Stocks

In this article, we discuss the 5 stocks receiving downgrades from analysts. If you want to see more such stocks on the list, go directly to Analysts Are Downgrading These 10 Stocks. 

5. Snap Inc. (NYSE:SNAP)

Number of Hedge Fund Holders: 42

Snap Inc. (NYSE:SNAP) shares plummeted over 10 percent on Wednesday, February 1, following its fourth-quarter results. The social media company managed to meet financial expectations for the quarter, reporting adjusted earnings of 14 cents per share on revenue of $1.3 billion. This compares to the consensus of 11 cents per share for earnings and $1.3 billion for revenue.

However, Snap Inc. (NYSE:SNAP) came up with a gloomy sales outlook for the current quarter amid intense competition and an uncertain economic environment. The company expects its sales to drop in the range of 10 – 2 percent for the first quarter.

Subsequently, a couple of research firms downgraded Snap Inc. (NYSE:SNAP) after its recent earnings. Benchmark lowered its ratings for SNAP stock from “Buy” to “Hold,” while UBS cut its ratings from “Buy” to “Neutral” on Wednesday, January 1.