Twitter (TWTR) Priced Target Lifted at Goldman Sachs on Accelerated Product Innovation

January 13, 2014 7:00 AM EST
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Price: $53.79 -0.04%

Rating Summary:
    20 Buy, 36 Hold, 4 Sell

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    Up: 38 | Down: 18 | New: 7
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Goldman Sachs analyst Heath Terry reiterated a Buy rating on Twitter, Inc. (NYSE: TWTR) and boosted his price target from $46 to $65, citing an accelerated pace of product innovation.

"Over the course of the past quarter we have seen significant acceleration in the pace of Twitter's product innovation, with nearly 4x the number of enhancements designed to drive user growth, engagement, and incremental monetization as in any prior quarter," Terry notes. "While certainly the result of prior development, we believe this accelerating pace is more indicative of the company’s ongoing capabilities now that site stability issues have been resolved."

The analyst expects this acceleration to have a significant impact on inventory availability and monetization and are adjusting both our base case and upside case estimates to reflect that.

However, given recent outperformance in the shares the analyst fully expect significant volatility in the price.

The analyst bumped FY 2013 EPS from (3.37) to ($3.35), FY 2014 EPS from ($0.71) to ($0.70) and FY 2015 EPS from ($0.72) to ($0.69.).

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 $57.00 yesterday.

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