Twitter (TWTR) PT Goes to $48 at BMO Capital Post Q2

BMO Capital analyst Daniel Salmon reiterated a Market Perform rating on Twitter, Inc. (NYSE: TWTR) following solid Q2 results and bumped his price to $48.00 (from $42.00)

Salmon commented, "The quarterly results and raised guidance (and likely some short-covering) carried the post market trading. Moreover, the addition of 16mm net new monthly active users (MAUs) was the strongest in five quarters. As expected, management expanded on the size of Twitter's reach beyond its signed-in, MAUs, noting (among other things) that if unique users that aren’t signed in were included, the audience would be 2-3x larger. We think it will take some time for investors to digest how this affects the long-term revenue opportunities, and we aim to learn more about monetizing non-MAUs. While user growth trajectory (and off-Twitter usage) will remain the dominant storyline, we are watching a number of monetization drivers, including: 1) eCommerce activation tools like the Buy Now button and #Amazoncart; 2) continued rollout of the self-serve ad platform (Spain, Israel, South Africa added in the quarter); 3) traction of mobile app promotion suite; 4) the growth of the Amplify program, and; 5) a new promoted video ad offering coming in August that was highlighted by new CFO Noto."

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 $38.59 yesterday.

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