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Stock Update: Twitter, Inc. (NYSE:TWTR) Drops as Cowen Halves Forecast

Stock Update: Twitter, Inc. (NYSE:TWTR) Drops as Cowen Halves Forecast

November 11
14:36 2014

Twitter, Inc. (NYSE:TWTR) shares were down 1% Tuesday after Cowen and Co. said it expects the microblogging platform to add 2 million active users over the next 12 months, half of the users it had forecast originally, based on the results of a new survey it conducted. The financial services firm surveyed 2,000 adult users in the U.S. and noted that 21.8% were currently active users, 19.3% were former users and 58.9% had never used Twitter, according to a report by Cowen and Co. picked up by TheStreet. Twitter, Inc. (TWTR) shares recently traded at $39.19, down 1% relative to Monday’s close, with a 52-week range of $29.51-$74.73.

Is this a Buying Opportunity?

There are currently thirty five analysts that we track that cover the stock.  Of those thirty five, fourteen have a Buy rating, seventeen have a hold rating and four have a Sell rating.  On a consensus basis this yields a score of 2.29 and a Hold.  The combined price objective of these covering analysts is $51.97, which represents a 0.16% difference to the last closing price. A recent analyst activity consisted of Zacks Investment Research reiterating their Neutral stance on the company.  Zacks has a price target of $53 which represents an upside of 2.16% from the last closing price.  On the date of the report, the stock closed at $50.88. Another research firm weighing in recently was Canaccord Genuity who also reiterated their rating on the stock.  On September 11th Canaccord Genuity Initiated Coverage their price target on the stock at $62.00, or a 19.48% upside to the current price.  On the day of the report, TWTR shares closed at $52.64.

Company Profile

Twitter Inc (NYSE:TWTR) is a global platform for public self-expression and conversation in real time. It provides various products for users, including Twitter that allows users to express themselves and create, distribute, and discover content; Vine, a mobile application available on the iOS, Android, and Windows operating systems that enables users to create and distribute short looping videos; and #Music, a mobile application that helps users discover new music and artists based on Tweets. The company also provides a set of tools, public APIs, and embeddable widgets that developers can use to contribute their content to its platform; distribute Twitter.

 

 

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