Market Overview

Twitter Names A New CFO: Some Background On Ned Segal

Twitter Names A New CFO: Some Background On Ned Segal

Twitter Inc (NYSE: TWTR) confirmed Tuesday the appointment of Ned Segal as the company's next chief financial officer. He will replace Twitter's Chief Operating Officer Anthony Noto who has been assuming the duties of both CFO and COO.

Segal brings more than 20 years of finance and capital market experience to the table along with expertise in the technology sector, JMP's Ronald Josey commented in a report. He most recently served as senior vice president of finance for the small business group at Intuit Inc. (NASDAQ: INTU), where he led financial and strategic planning for the $2.5 billion division.

Prior to his employment at Intuit, Segal spent 17 years at Goldman Sachs Group Inc (NYSE: GS), where he was a managing director and head of global software investment banking.

Ironically, Segal isn't active on Twitter's social media platform with a total 13 Tweets from 2015 through 2017.

Noto Has More Bandwidth

The appointment of Segal will give Noto "more bandwidth" to better focus on monetization initiations, building out Twitter's Live Video, and focus on core product improvements, Josey noted.

Meanwhile, Twitter remains in the early stages of a long-term sustainable turnaround, which would be based on improving advertiser demand. As such, investors should wait for signs of any meaningful acceleration in engagement trends along with advertising growth before being aggressive on the stock.

Shares of Twitter remain Market Perform rated with no assigned price target.

Related Links:

What To Do With Twitter Following 4 Straight Quarters Of Daily Active User Growth

Is Twitter Showing Signs Of Life?

Latest Ratings for TWTR

May 2020CitigroupMaintainsNeutral
May 2020SunTrust Robinson HumphreyMaintainsEqual-Weight
May 2020B of A SecuritiesReiteratesBuy

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