Analyst Michael Graham from Canaccord  is unsure about Twitter Inc (NYSE:TWTR) future growth after its mixed second quarter earnings. The microblogging giant reported, for the second straight quarter, Monthly Active Users, MAU, ahead of consensus. Management believes a refined timeline, organic growth and marketing contributed to this success. Graham also expects to see another strong MAUs report next quarter due to the upcoming Olympics and Presidential election.

However, Q3 guidance is showing 5% revenue growth, lighter than the analyst expected, because of lack of advertiser growth and pricing compression that are expected to continue to linger into Q4.

Graham believes that the downside facing Twitter is limited. He notes that the language of how Twitter is trying to turnaround its business has shifted from “fix the product and revenue will follow” to “build a love mobile video business.”

The analyst thinks that Twitter has a good chance to build a strong video business and notes that it will take some time to understand how well it is doing. Graham is still a believer that Twitter could be an attractive acquisition.

The analyst lowered is 2017 EPS from $0.66 to $0.54 and downgraded his rating from Buy to a Hold, with a $16 price target.

According to TipRanks, the analyst has a yearly average return of 12.4% and a 59% success rate. The analyst has a 24.5% average loss when recommending Twitter, and is ranked #92 out of 4,083 analysts.

TipRanks shows that out of the 25 analysts who rated Twitter in the last 3 months, 24% gave a Buy rating, 68% gave a Hold rating and 8% gave a Sell rating The average 12-month price target for the stock is $18.97, marking a 2.82% upside from current levels.

Shares of Twitter are currently trading at $15.83, down $2.62 or 14.20%.