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Snap shares hit all-time low after analysts cut price targets

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Snap Inc. traded at an all-time low after two Wall Street analysts slashed the company's price targets.

The Snapchat operator's shares dropped to less than $8 per share on the New York Stock Exchange.

Anthony DiClemente of Evercore ISI and Mark May of Citi Research were the analysts, both citing competition from rival platforms such as Instagram.

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