OPPENHEIMER: Twitter doesn’t make sense at this price (TWTR)
|09/26/2016||Posted by BusinessMediaguide.Com under General World News||
After news of a potential acquisition on Friday, shares of Twitter shot up 22% in trading, going from just over $18.50 per share to more than $22 per share.
According to Jason Helfstein, an analyst at Oppenheimer, no one should buy Twitter because with a stagnating user base and dwindling impact, even at just $22.75 per share, the social media company isn’t worth it.
“At $22 per share, we believe that Twitter is fully valued at best, and potentially overvalued, precluding a potential acquirer from paying a normal take-out premium from the last trading price,” said Helfstein in a note to read more >>>