Bulletin
Investor Alert

Market Pulse Archives

April 8, 2020, 8:50 a.m. EDT

Twitter stock gains after Bernstein ends bearish call

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Twitter Inc. (TWTR)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Emily Bary

Shares of Twitter Inc. /zigman2/quotes/203180645/composite TWTR +3.41% are up about 3% in premarket trading Wednesday after Bernstein analyst Mark Shmulik upgraded the stock to market perform from underperform. While he said that the company's "two primary revenue streams are product launches and high-profile events," both of which are on pause due to the COVID-19 outbreak, he's warming to the stock a bit more due to a clamoring for information during the pandemic as well as a cheaper valuation as the shares have recently underperformed. They're down 23% over the past month as the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.62% has lost 11%. Twitter "sits at the fulcrum of news and conversation during this unprecedented global event," Shmulik wrote, and the sorts of marquee events that drive revenue "are just postponed, not lost." He also points to "signs of life" for the company's mobile-app promotion, or MAP product, which had been a source of concern in recent earnings reports. Shmulik upped his price target to $29 from $27 in his Wednesday note to clients.

/zigman2/quotes/203180645/composite
US : U.S.: NYSE
$ 34.87
+1.15 +3.41%
Volume: 23.21M
June 5, 2020 4:00p
P/E Ratio
21.63
Dividend Yield
N/A
Market Cap
$26.46 billion
Rev. per Employee
$776,112
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,193.93
+81.58 +2.62%
Volume: 4.80B
June 5, 2020 5:07p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.