Twitter: Solid 3Q:14 Results Are Expected, Says Cantor
In a research report issued this morning, Cantor analyst Youssef Squali maintained a Buy rating on Twitter Inc (NYSE:TWTR) with a $58 price target, ahead of the company’s third-quarter earnings.
Squali wrote, “We expect TWTR to report strong results on Monday, 10/27, with revenue growth of 106% Y/Y, the fastest in the group, and above management’s guidance, driven primarily by monetization gains. TWTR’s U.S. business, at about two-thirds of overall revenue, should show healthy growth, we believe, while users (MAU) and engagement remain the biggest area of focus. While monetization continues to drive near-term results, solid sequential growth in users and higher engagement are key to drive the stock higher from here, in our view.”
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 70.2% success rate. Squali has a 23.3% average return when recommending TWTR, and is ranked #3 out of 3347 analysts.