Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Twitter Trades Above $20 For First Time In Months; Stifel Upgrades

Courtesy of Benzinga.

Twitter Trades Above $20 For First Time In Months; Stifel Upgrades

Twitter Inc (NASDAQ: TWTR) pulled a fast one in the third quarter, delivering a surprising earnings beat that sent shares up over 18 percent as the stock surpassed the $20 mark for the first time in three months.

Following the earnings beat, Stifel upgraded Twitter from a Sell to a Hold rating and raised their price target from $12 to $17.

“Twitter showed signs of stability in the third quarter, including steady daily audience growth and rising spend among its largest ad buyers, which could lead to a return to revenue growth by early 2018 when the company faces easing comps,” said Stifel analyst Scott Devitt.

Arguably the most promising metric from the release was daily active users growing double-digits year over year in the quarter, in most of Twitter’s top ad markets.

Although Twitter turned in an EBITDA beat, proving that cost-cutting initiatives are starting to bear fruit, year-over-year revenues continue to decline and a return to sustained double-digit revenue growth may be a tough task.

“A return to sustained double-digit revenue growth, however, likely requires prolonged strength in audience growth, improving ad products that accentuate Twitter’s distinctive platform, advancements in measurement, and a continued flow of unique/engaging content,” said Devitt.

With advertising agencies placing a bigger focus on Snap Inc (NYSE: SNAP) and Pinterest, the more difficult factor will be assessing whether Twitter’s budget growth will continue to be constrained due to the increased advertising competition.

At time of publication, shares of Twitter were up 19.19 percent at $20.41.

Related Links:

Twitter Pulls A Fast One With Q3 Beat

It’s All About Ad Dollars For Twitter This Q3

Latest Ratings for TWTR

Date Firm Action From To
Oct 2017 Stifel Nicolaus Upgrades Sell Hold
Aug 2017 Jefferies Downgrades Buy Hold
Aug 2017 SunTrust Robinson Humphrey Initiates Coverage On Hold

View More Analyst Ratings for TWTR


View the Latest Analyst Ratings

Posted-In: Analyst Color Earnings News Guidance Upgrades Analyst Ratings Movers Tech Best of Benzinga


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!