Twitter (TWTR): Wedbush Says Spending Trends Check Positive but Focus is on Growth

Wedbush maintained a Neutral rating on Twitter, Inc. (NYSE: TWTR) and lowered its price target to $50.00 (from $58.00). Analyst Shyam Patil noted checks were positive on spending trends but focus remains on user growth and engagement.

"The focus this quarter remains on user growth and engagement following the softness in 4Q. comScore’s data appears constructive for engagement, showing an acceleration in mobile + PC time spent in the US, though we tend to view the data as a directional indictor given the difficultly in measuring mobile. Our checks suggest a positive bias to 1Q spending trends, as pricing has remained stable and marketers are showing more interest and participation. While we continue to have a positive longer-term view on the business and market opportunity, we are maintaining our NEUTRAL rating and lowering our target to $50 (from $58) given the current valuation and near-term concerns around user growth and engagement," said Patil.

For an analyst ratings summary and ratings history on Twitter, Inc. click here. For more ratings news on Twitter, Inc. click here.

Shares of Twitter, Inc. closed at $44.82 yesterday.

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