- The social media company has suffered as a result of the struggling online advertising market.Shares of Snap fell 28% Friday after investors continued to digest the company's third-quarter earnings report that was released Thursday night.The company posted an unexpected profit, but revenue missed estimates slightly, coming in at $1.13 billion versus the $1.14 billion expected, according to a Refinitiv survey of analysts.Bernstein analyst Mark Shmulik downgraded the stock Friday morning to market perform from outperform and reduced his price target to $9 from $15.In a note to investors, Shmulik signaled there's still hope for the company: "SNAP's untapped potential remains, yet we're unlikely to see near-term inflection."