NEW YORK, NY / ACCESSWIRE / May 26, 2017 / Shares of Snap had taken a beating on Wednesday after hours and some cited the company's discount it has offered to new advertisers. PayPal also edged back slightly after hitting an all-time close the day before that hit firm Stifel Nicolaus' price target. The firm subsequently downgraded PayPal from "buy" to "hold."

RDI Initiates Coverage on:

Snap Inc.https://ub.rdinvesting.com/news/?ticker=SNAP

PayPal Holdings, Inc.https://ub.rdinvesting.com/news/?ticker=PYPL

Snap Inc. shares closed up 6.82% on Thursday despite shares falling in after-hours trading on Wednesday. Reports revealed that Snap has offered discounts to potential new advertisers and this discount could have been the reason for the dip. Yesterday, law firm of Kessler Topaz Meltzer & Check, LLP announced that a shareholder class action lawsuit has been filed against Snap, Inc. on behalf of purchasers of the Company's securities between March 2, 2017 and May 15, 2017. According to the lawsuit, Snap made a series of materially false and misleading statements to investors about the Company's reported user growth. The company recently announced the slowest year-to-year user growth in the last two years in its first quarterly report. After the news, shares of Snap had fell over 21%.

Access RDI's Snap Research Report at: https://ub.rdinvesting.com/news/?ticker=SNAP

PayPal Holdings, Inc. shares closed down a modest 0.24% yesterday after hitting a record close on Wednesday at $51.05. Stifel Nicolaus analyst Scott Devitt cut his rating on PayPal to "hold" from "buy" citing that the company had achieved the firm's objective ahead of schedule. Stifel Nicolaus had a $51 12-month stock price target. PayPal released its first quarter results at the end of last month that were better than the Street expected and has climbed 15% since then. Devitt wrote in a note to clients, "We continue to believe that the company is well-positioned for long-term growth in the digital payments space as management executes in driving deeper relationships with merchants and consumers across multiple verticals." In other news PayPal is also taking Pandora to court and has accused the company of stealing its logo.

Access RDI's PayPal Research Report at: https://ub.rdinvesting.com/news/?ticker=PYPL

Our Actionable Research on Snap Inc. (NYSE: SNAP) and PayPal Holdings, Inc. (NASDAQ: PYPL) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDinvesting.com