Raymond James Downgrades Twitter (TWTR) to Underperform

Raymond James downgraded Twitter, Inc. (NYSE: TWTR) from Market Perform to Underperform.

Analyst Aaron Kessler commented, "We are downgrading our rating to Underperform from Market Perform given a more challenging ad environment for Twitter due in part to increasing competition (e.g., Facebook, Snapchat). While accelerating DAU growth is encouraging, overall MAUs have been relatively flat and DAU/MAU likely remains below 50% (vs. Facebook at 66%). Additionally, we believe fair value for shares today is ~$10/share (2.3x revenues/8x EBITDA), and in the absence of an acquisition, we see shares trading lower."

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 $18.72 yesterday.

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