Snap shares fall after analysts cut price targets, citing Instagram competition

Brendan McDermid | Reuters

A banner for Snap Inc. hangs on the facade of the the New York Stock Exchange on the eve of the company’s IPO in New York.

Snap’s user engagement will decline as the messaging app’s customers move to other platforms, according to Evercore ISI.


CNBC parent NBCUniversal is an investor in Snap.

— CNBC’s
Michael Bloom
contributed to this story.

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