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Twitter share falls into reports of U.S. user growth and analyst price cuts

Bitcoin 2021 is a cryptocurrency conference held at Winwood’s Mana Convention Center in Miami on June 4, 2021 by Jack Dorsey’s creator, co-founder, Twitter chairman, and Square’s co-founder and CEO. I will give a lecture on the stage of the convention. Florida.

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Twitter’s share price closed more than 10% on Wednesday after the company reported disappointing growth for users and analysts expressed concern about the impact of Apple’s iOS privacy changes.

In third-quarter revenue on Tuesday, according to Twitter, total daily monetizable users (mDAU) increased 13% to 211 million, analysts expected 200 million. The Street Account says it has fallen below 11.9 million.

In the United States, the company’s user base has grown by less than 1 million, or less than 3%, from a year ago.

Based on these figures, KeyBanc Capital Markets said the company will not be able to reach its goal of 315mDAU by the end of 2023. The company has lowered Twitter’s target price from $ 81 per share to $ 70. As of Wednesday afternoon, the stock was trading at $ 55.31.

“Twitter needs to significantly accelerate US and international growth,” KeyBanc analysts wrote in a memo to investors. They still have a stock purchase rating.

Third-quarter revenue was $ 1.28 billion, up 37% from the previous year. According to Twitter, fourth-quarter sales will be between $ 1.5 billion and $ 1.6 billion, but analysts forecast revenue of $ 1.58 billion.

According to Twitter, Apple’s iOS privacy changes will have less impact than expected during this period and will be modest in the fourth quarter. Both Snap and Facebook cited new privacy features that allow users to opt out of targeted ads for their apps as a major reason for the business turmoil during this period.

Some analysts are still concerned that Twitter could be harmed.

Jeffreys cites “continuous uncertainty due to iOS changes” as a reason to lower the stock price target from $ 80 to $ 70.

look: Apple iOS privacy changes have different impacts on Twitter and Spotify

Twitter share falls into reports of U.S. user growth and analyst price cuts

Source link Twitter share falls into reports of U.S. user growth and analyst price cuts

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