BTIG Slashes Snap Forecast But Maintains "Neutral" Rating

Rich Greenfield, Managing Director and Media Technology Analyst at BTIG Research, discusses the company's latest forecast for Snap revenues. In his report, Greenfield says, #wearesorry for not rating the stock as a "sell" early on. While Snap has been able to grow users at a fairly rapid pace, it struggles to monetize those adds. Still, Greenfield maintains his "neutral rating," noting that at this point, he wants to wait it out to see if Snap CEO Evan Spiegel is able to make the company profitable for advertisers. We also get Greenfield's insights on Netflix's decision to raise subscription prices, even as its user growth continues to soar.
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