Twitter, Inc. (TWTR) PT Raised to $19 at Jefferies Following 3Q Beat

Jefferies raised its price target on Twitter, Inc. (NYSE: TWTR) to $19.00 (from $16.00) while maintaining a Hold rating following the company's 3Q earnings report. Revenues decreased -4% Y/Y to $590M, compared to the Street's $587M estimate. EBITDA of $207M came in ahead of the Street's $160M driven by tight OPEX controls.

4Q17 guide was above consensus with Adj. EBITDA $220M - $240M (vs. Street's $197M), and Adj. EBITDA margin in the range of 35% - 36% and SBC of $95M at the midpoint.

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