Citi says the company may face headwinds ahead.
due to concerns about the company's "near-term revenue outlook," the firm said in a note to clients Wednesday.
The firm also cut its price target on the stock to $36 from $45, and reiterated its neutral rating on shares of the social media company. The firm said ongoing issues with the company's Mobile App Promotion product could hit the company's revenue results going forward. Based on these concerns, Citi lowered its fourth quarter EPS estimate to 24 cents from 27 cents prior.Citi also said that they view the stock as "high risk" because shares have proven to be "especially volatile relative to other Internet stocks.
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