Bernstein upgrades Twitter, despite coronavirus hit to ad revenue [CNBC]
Block, Inc. Class A, (SQ)
Last block, inc. class a, earnings: 2/26 04:05 pm
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Source: CNBC
Jack Dorsey, CEO of Square Inc., holds an Apple Inc. iPhone while standing outside of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 19, 2015.Yana Paskova | Bloomberg | Getty ImagesThoughTwitterThe upgrade comes as Bernstein's Mark Shmulik and Nikhil Devnan say Twitter's stock has underperformed in the COVID sell-off and that the valuation is now more reasonable. They wrote that Twitter is sitting at the center of news and conversation during the pandemic and that events — which Twitter gains significant amounts of revenue from — are postponed but not lost.They write that they also see "signs of life" from Twitter's " Application motion" (MAP)suite of productsblamedthird-quarter 2019 earnings whiffElliott and Silver LakeBut things will be difficult in the near-term. Twitter two weeks agopulled its first quarter guidanceUsers are up, the company said, reporting that its quarter-to-date average of monetizable daily active users had reached 164 million, up 23% fr
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