Snap's stock price hard to justify - Barron's

Snap Inc's share price looks overvalued following a surge in the wake of its much-anticipated initial public offering last week, according to an article in Barron's.Shares of the messaging app company closed at $27.09 on Friday, well above its IPO price of $17 per share set on Wednesday.According to the Barron's article, Snap is valued at about 34 times its projected 2017 revenue of $1 billion, based on its enterprise value, while Facebook is valued at 10 times sales.