Monday , 20 November 2017

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Twitter user growth estimates halved despite NFL deal

Shares of Twitter Inc. fell 3% in premarket trade Thursday after Morgan Stanley reduced its price target on the stock to $16 from $18 and cut estimates on user growth for the current year in half. The bank, which has an underweight rating on the stock, also reduced its bear-case price target to $8. Morgan Stanley analyst Brian Nowak said engagement and new user trends “remain troubling,” and that core user engagement on the platform “remains in decline.” The brokerage lowered its estimates on new user additions for 2016 to 2.6 million global monthly users from 5.2 million previously, and cut its 2017 estimate to 0.3 million from 3.4 million. The weak outlook comes despite Twitter’s new deal with the NFL to stream 10 Thursday night games. Shares of Twitter fell 2.7% premarket, putting the stock on track to open around $16.77. Its shares have fallen more than 67% from 12 months ago, while the S&P 500 is little changed.

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Twitter user growth estimates halved despite NFL deal Reviewed by on . Shares of Twitter Inc. fell 3% in premarket trade Thursday after Morgan Stanley reduced its price target on the stock to $16 from $18 and cut estimates on user Shares of Twitter Inc. fell 3% in premarket trade Thursday after Morgan Stanley reduced its price target on the stock to $16 from $18 and cut estimates on user Rating:
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