Twitter: shares hit by broker downgrade.
(CercleFinance.com) - Twitter shares are heading to new lows on Friday after an analyst raised concerns about the future of the social networking service.
The shares are down 1.2% at 16.7 dollars in early afternoon trading, not that far from their record low of under 15 dollars per share. In November 2013 the company went public at 26 dollars per share.
The fall in the Twitter share on Friday came after Jefferies downgraded the shares of the popular microblog platform and set a new 16 dollar target price for the stock, compared to 20 dollars previously.
The analyst believes that facebook will be the "clear winner" in social media.
"Twitter is pushing to be a digital live video provider but we note that bigger competitors such as Facebook and Google have stronger digital video propositions," Jefferies wrote in a report to investors.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The shares are down 1.2% at 16.7 dollars in early afternoon trading, not that far from their record low of under 15 dollars per share. In November 2013 the company went public at 26 dollars per share.
The fall in the Twitter share on Friday came after Jefferies downgraded the shares of the popular microblog platform and set a new 16 dollar target price for the stock, compared to 20 dollars previously.
The analyst believes that facebook will be the "clear winner" in social media.
"Twitter is pushing to be a digital live video provider but we note that bigger competitors such as Facebook and Google have stronger digital video propositions," Jefferies wrote in a report to investors.
Copyright (c) 2017 CercleFinance.com. All rights reserved.