These Analysts Cut Their Forecasts On Snap Following Q1 Results

Financial Performance - Snap Inc reported first-quarter revenue of $1.36 billion, representing a 14% year-over-year increase, surpassing the Street consensus estimate of $1.35 billion [1] - The company reported an adjusted loss of 8 cents per share, which was better than the Street consensus estimate of a loss of 13 cents per share [1] User Growth - Snap had 460 million daily active users at the end of the first quarter, marking a 9% year-over-year increase [2] - The company achieved over 900 million monthly active users, moving towards its goal of one billion MAU [2] Stock Performance and Analyst Ratings - Following the earnings announcement, Snap shares fell 14.7% to trade at $7.75 [2] - Analyst Barton Crockett from Rosenblatt maintained a Neutral rating and lowered the price target from $12 to $9 [7] - BMO Capital's Brian Pitz maintained an Outperform rating but reduced the price target from $16 to $13 [7] - RBC Capital's Brad Erickson reiterated a Sector Perform rating and maintained a $12 price target [7]