Twitter (TWTR) Costolo Resignation Driven by Shareholder Consensus, Jefferies Notes

Jefferies US Internet Team reiterated a Buy rating and $60 price target on Twitter, Inc. (NYSE: TWTR) amid news CEO Dick Costolo is stepping down.

They commented, "In a move likely driven by shareholder consensus, CEO Dick Costolo is stepping down effective July 1st. Shareholders have become frustrated amid decelerating growth in MAUs and recent monetization issues. In the interim, Co-Founder and Chairman of the Board (and current CEO of Square) Jack Dorsey will serve as CEO as the co. searches for Costolo's replacement. We believe user growth and product improvements, not monetization, should be the new CEO's ST focus."

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 $35.84 yesterday.

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