Twitter Stock Forecast: Why You Should Still Go Long On Twitter
The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.
Summary
- Twitter’s stock touts a 1-month price return of 24.23%. Profit taking now is justified. However, I’m still endorsing this stock as a buy.
- TWTR has recovered from its March sell-off 52-week low of $20. This stock is still way below its 52-week high of $45.86.
- Yes, the COVID-19 pandemic is slowing the growth of digital advertising this year. Business closures are forcing some advertisers to spend less.
- Going forward, more product sellers and marketers will no longer spend on out-of-home/billboard advertising. They will just re-align their ad budgets to digital advertising platforms like Twitter.
- My buy rating for TWTR is also largely influenced by its valuation ratios