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Shauna O'Brien Dec 16, 2014
The analyst commented: “Using today’s comScore release, in addition to Evercore ISI survey work, we parse Twitter’s relatively weak October/November traffic trends and offer comparison vs. peers across mobile usage. Unfortunately, we find TWTR to be ceding some ground to faster growing competitors, such as Instagram, who also now rival TWTR’s scale. And while Oct. and Nov. user and engagement trends underperformed 3Q14 levels, it is worth noting that we saw a positive growth inflection in US MAUs in Nov. to 22% vs. Oct.’s 19%, possibly signaling recent success. Still, the data broadly points to needed conservatism around our MAU and ad growth forecasts. On lowered estimates, particularly in 2016, what we had been citing as an inflection year, our target lowers to $45 from $55.”
The analyst move today takes Twitter’s slowing traffic trends into consideration with the new price target, but still rates the company as a “Buy.”
|MPEGX||Morgan Stanley Inst Mid Cap Growth||1.06%|
|ARTQX||BlackRock Global Allocation||1.88%|
|VTSMX||Vanguard Total Stock Market Index||0.99%|
Shares of TWTR are down 42% YTD.
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