Despite Snap's rise, Point View's John Petrides warns investors to avoid the stock, but Piper Jaffray's Craig Johnson says it looks compelling.
div > div.group > p:first-child"> In Monday's premarket, shares were up more than 4%, at $12.35, after RBC upgraded the stock to outperform and projected a $17 price target.
Despite the company's push into additional revenue channels, Point View Wealth Management's John Petrides says that from a fundamental perspective he wouldn't touch the stock here. He specifically points to the company's lack of profitability as well as its"hemorrhaging cash flow" as reasons to stay away.
From a technical perspective, however, Piper Jaffray's Craig Johnson says Snap's chart may be flashing a buy signal.
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