Snap Inc. Stock: Next Stop, $10?

Snapchat's parent company is struggling to make friends on Wall Street these days. SunTrust is initiating coverage of several tech companies this week, and while most of the calls are either neutral or bullish, Snap, Inc. (NYSE: SNAP) is standing out by attracting a sell rating from analyst Youssef Squali. He's setting a $10 price target on the busted IPO, suggesting 22% of downside off of Tuesday's close.

Squali is just the latest Wall Street pro to dismiss Snap's recent weakness as a buying opportunity. Last week's poorly received second-quarter results don't paint a pretty picture, and Squali feels that results for the balance of the year as well as fiscal 2018 will probably continue to fall short of market expectations.

Image source: Snap, Inc.

Source: Fool.com