Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Twitter Inc (NYSE: TWTR) shares have rallied 45 percent since its Q2 earnings release, driven primarily by M&A speculation.
Mizuho’s Neil A. Doshi downgraded the rating on the company from Neutral to Underperform, with a price target of $15.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
“We are skeptical of these potential business combinations and believe that the stock is overvalued as business fundamentals have deteriorated significantly over the past 12 months,” Doshi mentioned.
The analyst believes M&A speculation is unlikely to play out and that the stock has become too expensive due to these rumors, especially for a company that is delivering revenue growth a third of the level seen a year ago and growing more slowly than many of its peers.
“Some may point to LinkedIn Corp (NYSE: LNKD) as a comp, but LinkedIn has a larger member base that is growing faster, has deep moats around its core recruiting business, and has shown solid diversification into advertising and other businesses,” Doshi noted.
Fundamentals Deteriorating
In fact, the analyst pointed out that Twitter’s core fundamentals are continuing to deteriorate, with U.S. ad revenue growth at 18 percent year-on-year for Q2, well below its peers.
In addition, the company’s global MAU has grown only 3 percent over the last two quarter, again well below that of its peers.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.