Twitter (TWTR) PT Goes to $45 at Wunderlich Securities

Wunderlich Securities analyst Blake Harper reiterated a Hold rating on Twitter, Inc. (NYSE: TWTR) following Q2 results but raised his price target to $45.00 (from $35.00)

Harper comments, "Twitter, Inc. (TWTR) reported Q2 results of $312M in revenues and $54M in EBITDA, ahead of us and the consensus and compared to guidance of $270-$280M /$25-$30M. Results were driven by strong user growth, engagement, and monetization. We had been positive on the monetization and engagement, but user growth surprised with 271M monthly active users (MAUs) compared to our 261M estimate and the consensus of 267M. User growth was attributed to product upgrades and engagement to the World Cup audience. We are maintaining our Hold rating but raising our estimates and price target from $35 to $45, which is based on our DCF and is 13x EV/S on our FY 15 estimate growing 61% Y/Y, up from 47% Y/Y, and compared to peers of 7-9x EV/S with growth of 20-45% Y/Y."

The firm is raising FY15 estimates to $2,162M, +61% Y/Y/$492M, +101% Y/Y/$0.36 in revenues, EBITDA and EPS, respectively, from $1,831M, +47% Y/Y/ $378M, +79% Y/Y /$0.20

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.

You May Also Be Interested In

• JPMorgan Downgrades Monster Beverage (MNST) to Neutral, 'Cost Pressures and Weaker Low-end Consumer'
• Meta Platforms Inc. (META) PT Lowered to $525 at JMP Securities, 'Meta Is Entering an AI Investment Cycle but Growth Catalysts Remain'
• Nordic Semiconductor ASA (NOD:NO) PT Raised to NOK127 at UBS