Twitter Inc (NYSE:TWTR) Hits New Low, Analysts Cut Targets

Twitter Inc (NYSE:TWTR) falls to all-time lows Wednesday after disappointing evening earnings details and as follow-up comments about users and share moves from CEO Dick Costolo failed to stem the drop.

Costolo talked to CNBC about the sharp rise, then decline in shares since its early November IPO. The social media stock is down 47% from a late December high of $73.31 per share.

Costolo was adamant that Twitter is already “ubiquitous” around the world and that no special event, like the Oscars, is necessary to draw users in. He notes the company will be focusing on the “value to users” when logging on to the Twitter platform.

The decline in shares follows a late-Tuesday Q1 earnings report that beat on earnings and revenue with the company providing guidance for Q2 and FY2014 in line with Street consensus. S&P Capital IQ has Street estimates averaging a loss of a penny for Q2 and for FY 2014 EPS of $0.02. Twitter also reported 255 million active users on a monthly basis, lower than Street expectations.

The lack of more positive guidance and disappointing user numbers likely lead to a number of analyst price target cuts on TWTR, including Cantor Fitzgerald to $40 from $45.

Near midday, shares of TWTR are down 9.6% to $38.53 per share after hitting a new low of $37.24 per share in early trading. Midday volume is heavy at 23 million shares, almost twice an average day.

Analysts have a consensus price target of $49 on Twitter Inc(NYSE:TWTR) which indicates a 14% upside. The consensus rating of the stock is a HOLD with a score of 1.91. There are currently 14 Hold Ratings, 8 Buy ratings and 11 Sell ratings on the stock.

Twitter has a 50 day moving average of $46 and a 200 day moving average of $52.  The current quarter consensus EPS is $0.02.

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