In a research report published today, Cantor analyst Youssef Squali reiterated a Buy rating on Twitter (NYSE:TWTR) with a $58 price target, as the company hosted its first Analyst Day yesterday, from which the analyst walked away impressed with both the depth and breadth of what was discussed.
Squali noted, “While most of it is still on the come, we believe that management has clearly 1) articulated medium- and long-term goals for users and monetization, 2) formulated a more refined product strategy against these goals and 3) showcased a deep bench of managers determined to accelerate the pace and breadth of product change. While it may take a few quarters to show growth acceleration in key metrics of users, engagement and monetization, Twitter, in our view, remains one of the most attractive and differentiated digital media platforms with clear long-term potential.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Youssef Squali has a total average return of 28.9% and a 73.9% success rate. Squali has a 11.9% average return when recommending TWTR, and is ranked #2 out of 3369 analysts.