$Snap Inc (SNAP.US)$ shares are falling on heavy trading volume Friday after the company posted a revenue miss for the second-quarter.

The Details: Snap said revenue increased 16% year-over-year to $1.24 billion, but missed analysts' expectations of $1.25 billion for the quarter. The company also reported operating cash flow of negative $21 million and free cash flow of negative $73 million.

Snapchat daily active users grew 9% year-over-year to 432 million, and monthly active users reached 850 million in the quarter.

Multiple analysts have lowered price targets on Snap following the print:

• JP Morgan analyst Doug Anmuth maintained an Underweight rating and lowered the price target from $13 to $11.

• Susquehanna maintained its Neutral rating and lowered the price target from $15 to $12.

• Piper Sandler analyst Thomas Champion reiterated a Neutral and lowered the price target from $15 to $12.

• Truist Securities maintained its Hold rating and lowered its price target from $16 to $13.

According to data from Benzinga Pro, Snap's stock has already surpassed its average daily trading volume and is trading well-below its 50-day moving average of $15.33 per share.

Wall Street analysts have an average 12-month price target of $13 on Snap. The Street high target is currently at $16 and the Street low target is $11. Of all the analysts covering Snap, no one has positive ratings, three have neutral ratings and one has a negative rating.

In the last month, six analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Snap have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. Snap is 20.63% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about Snap, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.