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Snap slips after revenue miss, user metric change

By Reuters News

** Shares of Snapchat operator Snap SNAP.N fall 9.8% to $5.34 premarket

** Co's Q3 revenue misses analysts' expectations with ad revenue rising 4%, below co expectations

** CEO Evan Spiegel blames lower spending amid macroeconomic pressures in US and Middle East

** B Riley ("Buy," cuts PT to $8 from $10) views co's move to use monthly active users as audience metric, instead of daily, as loss of data on regional engagement

** Average rating of 31 of 44 analysts is "hold", with 9 at "buy", 1 "strong buy" and 3 "sell"; their median PT is $6.88 - LSEG-compiled data

** YTD, up to last close, stock down nearly 27%

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