Twitter Receives Analyst Downgrade, Thanks to Record Discontent Among Advertisers
More marketing departments plan to decrease, rather than increase, spending on the platform.
Twitter Sales Talk Pushes Share Price Higher
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Advertisers just aren't that into Twitter Inc.
That's the conclusion of RBC Capital Markets Analyst Mark Mahaney, who downgraded shares of the micro-blogging social media network to "underperform" and lowered his price target to $14, from $17. The move was based on a proprietary survey performed by RBC that found that, for the first time, more marketing departments plan to decrease their ad spending on Twitter than plan to increase it.