But they fell just below $24 — Snap’s initial trading price — when the session ended. That’s still above what Wall Street analysts believe Snap shares are worth. “That’s the simple answer.”Wieser set the year-end target price for Snap’s stock at $10 and gave it a “sell” rating based on his estimates of the company’s future profitability. “There’s a lot riding on the success of the Snap IPO,” said Anthony. And all the buzz around Snap’s IPO may be tempting small and individual investors to buy, said Anthony, pushing up demand.

Source: Los Angeles Times March 07, 2017 00:22 UTC