Twitter (TWTR) User Growth and Monetization 'Murky', Wedbush Says; PT Cut to $40
Wedbush analyst Shyam Patil reiterated a Neutral rating and cut its price target on Twitter, Inc. (NYSE: TWTR) to $40.00 (from $50.00) following results saying the outlook remains murky for user growth and monetization.
Patil commented, "We are maintaining our NEUTRAL and lowering our target to $40 (from $50), as the outlook remains murky, given that both monetization and user growth are likely to remain challenged for the foreseeable future. That said, the growing relationship with Google is intriguing and worth monitoring closely, as it could provide a much needed catalyst over the coming quarters."
2015 revenue/EBITDA estimates are now to $2.22 billion/$525.5 million and 2016 are now $3.58 billion/$920.2 million.
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Shares of Twitter, Inc. closed at $42.27 yesterday.