Snap price target lowered to $12 from $14 at Roth MKM

Roth MKM lowered the firm’s price target on Snap (SNAP) to $12 from $14 and keeps a Neutral rating on the shares. The company reported a clean Q4 earnings beat with stable users and engagement, while its Q1 revenue outlook was a tad above and the EBITDA guide was below expectations, the analyst tells investors in a research note. Roth adds it is positive on Snap’s traction among SMB advertisers, growing its Direct Response segment, and given its “sticky subscription segment”, but it is increasingly worried about Snap’s ability to grow Brand revenue over the near term.