Pivotal Research Group analyst Brian Wieser upgraded shares of Snap Inc. [s; snap] to hold from sell on Thursday, becoming at least the third analyst to change his Snap rating this week. Wedbush upgraded the stock on Tuesday, while BTIG downgraded it on Wednesday. Pivotal's Wieser was concerned at the time of Snap's IPO about a number of factors, including inexperienced senior executives, dilution due to employee share issuances, and the possibility that stock-compensated employees would leave if shares plunged. "Despite these concerns and revenue expectations which are diminished relative to where they were at the time of the IPO, current trading levels in the company's stock appropriately balances downside risks in the near-term with longer-term potential, in our view," he wrote Thursday. He believes that "there should always be a segment of advertisers" who will see value in Snap's platform, including movie studios and companies that want to reach a younger demographic. Snap shares are down 0.1% in premarket trading, and the stock had fallen 27% over the past month as of Wednesday's close. The S&P 500 SPX, +0.52% had risen 2.4% in that time.
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