Snap gets downgraded because ad buyers prefer Instagram (SNAP)

Snap shares lower after the company was downgraded by Cowen on Thursday.
The company ranks last in a number of important categories to ad buyers, like user targeting and return on investment.
Watch Snap trade in real time here.Snap shares are falling, down 3.79% at $14.82 apiece, after Cowen released a downgrade of the company on Thursday morning.
John Blackledge, an analyst at Cowen, released the results of his team's survey of 50 senior ad buyers, and the big was that 96% of would prefer