Twitter, Inc. (TWTR) PT Lowered to $33 at Oppenheimer
Oppenheimer analyst Jason Helfstein lowered the price target on Twitter, Inc. (NYSE: TWTR) to $33.00 (from $37.00) while maintaining a Outperform rating.
The analyst commented, "We are lowering our target to $33 from $37 on reduced estimates, but maintaining our Outperform rating as we believe the monetization gap is too large vs. peers (58%/hour lower than FB). While 4Q results exceeded expectations, and the company provided DAU by geography for the first time, 1Q:19 revenue guidance was well below expectations on limited visibility of brand advertising in seasonally weak qtr, FY19 expense guidance was also above expectation. While there has been a pattern of conservative qtrly guidance, the stock is now more of a "show-me" story until 1Q earnings. Mgmt. highlighted key objectives for FY19 that included health of user experience, conversation around interests (news/sports) and investment in the revenue product to improve ad platforms as well as user experience."