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TWTR

Twitter

$38.93

0.11 (0.28%)

11:32
10/23/19
10/23
11:32
10/23/19
11:32

Fly Intel: What to watch in Twitter earnings report

Twitter (TWTR) is scheduled to report results of its third fiscal quarter before the market open on Thursday, October 24, with a conference call scheduled for 8:00 am ET. What to watch: 1. USER METRICS: Twitter's monetizable daily active usage, or mDAU, is a closely watched measure of its popularity and growth potential. Last quarter, the company reported global monetizable daily active usage increased 4% sequentially to 139M and 14% year-over-year, while the company's U.S. base increased 1% sequentially to 29M, an increase of 10% year-over-year. "We... continued our work to proactively identify and address malicious behavior, resulting in an 18% drop in reports of spammy or suspicious behavior across all Tweet detail pages, which show the replies to any given Tweet on our service," said CEO Jack Dorsey at the time. "In addition, we continued to leverage machine learning to deliver more relevant content, driving increased usage of Twitter on a daily basis, with mDAU up 14% year-over-year." 2. AD REVENUE: In Q2, the company reported ad revenue of $727M, a 21% increase year-over-year and 23% on a constant currency basis. The company reported total ad engagements rose 20% year-over-year and cost per engagement flat year-over year. "We continued to deliver solid performance in Q2, with revenue up 20% year-over-year on a constant currency basis driven by strength in the US," said CFO Ned Segal at the time. 3. GUIDANCE: In its Q2 earnings report, Twitter guided to Q3 revenue between $815M-$875M, with operating income ranging between $45M-$80M. The revenue consensus, which was $869.3M at the time, has risen to $873.91M. 4. NEW FEATURES, UPDATES: Twitter announced in July that it was starting to roll out a new Twitter.com to be faster, easier to navigate, and more personalized. Additionally in July, the company announced it was updating its rules against harmful conduct. Twitter said, "We create our rules to keep people safe on Twitter, and they continuously evolve to reflect the realities of the world we operate within... As a result, after months of conversations and feedback from the public, external experts and our own teams, we're expanding our rules against hateful conduct to include language that dehumanizes others on the basis of religion." Twitter also announced in July it was testing hiding replies to tweets in Canada. In August, the company announced it was testing a filter for unwanted messages in users' DM requests. Twitter also announced in August that it would no longer accept advertising from state-controlled news media. The company said, "Any affected accounts will be free to continue to use Twitter to engage in public conversation, just not our advertising products. This is a global approach and will be enforced across our entire business... We want to protect healthy discourse and open conversation." 5. ANALYST VIEW: On October 16, Baird analyst Colin Sebastian said he believes Twitter would report solid Q3 results given healthy ad spending trends and continuing product development momentum. The analyst expects Twitter to meet or exceed revenue expectations given what appears to be continued healthy online ad spending growth, coupled with continued user engagement improvements, and an ongoing focus on product enhancements. Sebastian maintained his Neutral rating and $40 price target on Twitter shares. On Wednesday, BMO Capital analyst Daniel Salmon raised his price target on Twitter to $45 to reflect his view of a "strong" advertising market and a low probability of a 2019 recession. The analyst also cited his outlook of acceleration in Twitter's "DR ad business", but kept his Market Perform rating on the stock given the "balanced" risk-reward in its valuation and the expectations of the management's continued investment.

  • 23

    Oct

  • 24

    Oct

TWTR Twitter
$38.93

0.11 (0.28%)

10/17/19
MKMP
10/17/19
INITIATION
Target $44
MKMP
Twitter assumed with a Neutral at MKM Partners
MKM Partners analyst Rohit Kulkarni assumed coverage of Twitter with a Neutral rating and $44 price target.
10/17/19
MKMP
10/17/19
INITIATION
Target $44
MKMP
Neutral
MKM assumes Twitter at Neutral, says wait for better entry point
MKM Partners analyst Rohit Kulkarni assumed coverage of Twitter with a Neutral rating and $44 price target. The company's turnaround is "still in its early innings" as its active user base has stabilized and started to grow again, Kulkarni tells investors in a research note. However, with the shares up 40% year-to-date, the analyst prefers to wait for a better entry. He says tougher upcoming comps and elevated expectations keep him on the sidelines for now. MKM had a Buy rating on Twitter before stopping coverage of the name in 2018.
10/22/19
KEYB
10/22/19
NO CHANGE
KEYB
Ad spending across major internet platforms remained healthy in Q3, says KeyBanc
KeyBanc analyst Andy Hargreaves says that despite signs of softness from large ad agencies, he believes ad spending across the major internet platforms remained healthy in Q3. The analyst expects positive results out of Facebook (FB) and results from Alphabet (GOOGL) that are largely in line with expectations. Feedback was more mixed around Twitter (TWTR), but not consistent enough to prompt a change to his estimates. Hargreaves continues to recommend owning Alphabet and Facebook.
10/23/19
BMOC
10/23/19
NO CHANGE
Target $45
BMOC
Market Perform
Twitter price target raised to $45 from $42 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Twitter to $45 ahead of its Q3 results to reflect his view of a "strong" advertising market and a low probability of a 2019 recession. The analyst also cites his outlook of acceleration in Twitter's "DR ad business", but keeps his Market Perform rating on the stock given the "balanced" risk-reward in its valuation and the expectations of the management's continued investment.

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TEUM

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HEXO

Hexo

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-0.1 (-5.32%)

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RAVE

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CHAP

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NYT

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WEX

Wex

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CBLI

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LOGC

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HTBI

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FR

First Industrial Realty

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UBSI

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