Drop it like it's hot.
Investors are unhappy with Snap Inc. (SNAP) after Cowen analysts maintained the company'd Underperform rating, but lowered the price target to $9 from $10.When the market closed on Tuesday, Snap was down 5.2% to $13.31.
The analysts lowered their expectations for Snap's total revenue for 2018 to $1.16 billion from $1.22 billion, and also dropped their forecasts for daily average users in the second quarter from 196 million from 194 million.
Shares had rallied on Monday morning after CEO Evan Spiegel gave a rare television interview to CNBC about his company's plans, but eventually ended the day flat.
Year to date, shares are down about 11%.