Twitter investors felt the exhilaration as the shares of the social networking site have jumped as much as 12.2% on Tuesday. Considering it the best day for Twitter Inc and investors over the last two months.
Twitter investors felt the exhilaration as the shares of the social networking site jumped as much as 12.2% on Tuesday. It was so far the best day for Twitter Inc and investors over the last two months.
According to reports, Morgan Stanley has upgraded its rating for Twitter stock from underweight to equal weight.
The price target has also been lifted from $28 to $29, citing higher ad sales and improved user growth.
“While previously we were cautious about the durability of Twitter’s platform turnround, more positive advertiser/agency conversations and (we believe) improving user growth make the risk/reward more compelling,” said Morgan Stanley analyst Brian Nowak.
Twitter, a social media site that is well known for 280 character messages, is now improving its tools to help brand advertisers upgrade their spending more effectively. Twitter’s video ad products have also seen a hike in performance. Nowak also noted that the lower ad prices have helped increase the demand, which has simultaneously helped increase the sales.
Events like Winter Olympics and othet political and sporting events are likely to boost the growth later this year. Meanwhile, the upgradation in video and live content, user interface are likely to improve personalisation. This will further help in growth and user retention on Twitter, the report said.
Twitter shares dropped between 2014 and 2016 amid concerns about growth in the number of users. Founder and CEO Jack Dorsey worked to revive the Twitter growth after his return to the company in 2015.
The micro-blogging website, last year, doubled its character count from 140 to 280 with an aim to drive maximum number of users and growth in engagement. The company also revealed new rules to curb online bullying.
Twitter now has 6 “buy” ratings, 22 “hold” ratings and 9 “sell” ratings on Wall Street. The company is scheduled to give its first-quarter result reports by 25th of April, 25 before the market opens.
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "(Picture for representation)")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}