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With No Turnaround Imminent, Loop Capital Downgrades Twitter

With No Turnaround Imminent, Loop Capital Downgrades Twitter

The list of Wall Street analysts who are incrementally bearish on Twitter Inc (NYSE: TWTR) after the company's disappointing fourth quarter report is quite notable.

One of those analysts is Blake Harper of Loop Capital Markets. The analyst downgraded the stock to Sell with a price target slashed to $10 from $16.

According to Harper, Twitter is "in trouble" as the social media platform offers what should be many compelling features and events, including live streaming of NFL games, live streaming of Presidential debates - not to mention President Trump's constant tweets.

Moreover, Twitter's "considerable impact and influence in the world" isn't helping its advertising business, which is now at risk of experiencing a secular decline.

Harper also noted Twitter is in a "difficult place" given the competitive threat of the landscape, which boasts larger and more resourceful competitors. In fact, Twitter's rivals are able to offer advertisers the tools and targeting abilities that Twitter can't. As such, Twitter is falling even further behind and missing out on much needed video and brand ad dollars that are being allocated elsewhere.

Bottom line, despite the constant attention brought on from the president, Twitter hasn't been able to notably grow its usage base, which is "disappointing for investors looking for a turnaround."

The company is focused on improving its product, but has significant challenges to overcome and faces well positioned competitors that it can't come close to reaching in scale and targeting," Harper argued.

Latest Ratings for TWTR

Nov 2020Morgan StanleyMaintainsEqual-Weight
Nov 2020Canaccord GenuityMaintainsHold
Oct 2020OppenheimerMaintainsOutperform

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