Following Twitter’s Q4 earnings beat, several analysts boosted their one-year price targets on the microblogging platform’s shares.
KeyBanc analyst Justin Patterson boosted his price target to a Wall Street-high of $80 from $65, as he perceived the Q4 results as a “full swing” recovery in Twitter’s advertising and continued success in strengthening audience engagement and advertisers. Patterson maintained his overweight rating on the stock.
Jeffries analyst Brent Hill described Twitter’s Q4 results “incrementally positive,” and increased his full-year 2021 revenue estimate by 5%, while boosting his price target to $64 from $52. He maintained his hold rating on the shares.
Piper Sandler analyst Thomas Champion mentioned that the results were bolstered by monetizable daily active user growth from the U.S. election, and improvements made to products and advertising. The analyst increased his one-year price target on Twitter shares to $61 from $45. He has a neutral rating on the stock.
Baird analyst Colin Sebastian noted that his team expects more positive catalysts to come, including an improving live event calendar and a lower impact from upcoming changes to Apple/IDFA (Identifier for Advertising) than other advertising platforms. Sebastian boosted his price target to $65 from $58. He maintained his neutral rating on the shares.