A number of Wall Avenue analysts raised their value goal on Twitter inventory Monday, following the corporate’s second-quarter earnings report that pushed shares right into a purchase zone.
Twitter (TWTR) income climbed 18% within the second-quarter, from the year-ago interval to $841.4 million, beating the consensus estimate. Earnings missed estimates however consumer progress was stronger than anticipated. Twitter inventory jumped 9% Friday to 41.52, in response to the report, its highest stage in a 12 months. The second-quarter outcomes have been posted after the market shut Friday.
Shares broke out of an extended cup-with-handle base with a 41.02 purchase level.
Twitter inventory closed at 41.50, down a fraction on the inventory market immediately.
Analyst Views On Twitter Inventory
FBN analyst Shebly Seyrafi raised his value goal to 50, from 45, and maintained a ranking of outperform.
“We might argue that the standard of Twitter’s income progress improved as promoting income progress accelerated to 21% (from the 12 months in the past interval) from 18% within the first quarter,” Seyrafi wrote in a notice to shoppers.
RBC Capital Markets analyst Mark Mahaney raised his value goal on Twitter inventory to 42 from 38, with a ranking of sector carry out.
“Twitter continues to execute considerably higher, with sequential quarters of spectacular engagement progress developments,” Mahaney wrote in his report back to shoppers.
Person Beneficial properties For Twitter
Nomura analyst Mark Kelley raised his value goal to 38, from 33, with a ranking of impartial.
“Twitter reported stable second-quarter outcomes with sturdy day by day common consumer progress driving advert income outperformance throughout all areas,” he wrote.
Twitter added 6 million day by day lively customers within the quarter, to 139 million. That was up 14% from the year-ago interval.
The corporate sees third-quarter income of $815 million to $875 million. The midpoint of $845 million is beneath Wall Avenue estimates for $872 million.
Please comply with Brian Deagon on Twitter at @IBD_BDeagon for extra on tech shares, evaluation and monetary markets.
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