Twitter, Inc. (TWTR) PT Lowered to $76 at Jefferies; Risk-Reward Less Attractive

Jefferies analyst Brent Thill lowered the price target on Twitter, Inc. (NYSE: TWTR) to $76.00 (from $79.00) while maintaining a Hold rating into earnings. Sees risk-reward less attractive following self-inflicted high bar.

The analyst commented, "WithTWTR guiding to >25% 3YR rev CAGR and finally showing progress on its DR product roadmap, we believe investor expectations are elevated. We are fundamentally positive the Q1/Q2 set-up as we expect a significant Q1 rev beat and Q2 acceleration, but worry that with the stock +23% YTD that upside may already be priced. In our view, the sustainability of user growth post-Pandemic is the biggest downside risk. Already, our3P data checks are showing just 4% y/y Q1 download growth vs. +43% and +31% in Q3and Q4, respectively."

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