SAN FRANCISCO (CBS SF) – Twitter’s flurry of moves to engage its users for longer periods of time is resulting in a solid take from a Jefferies analyst.
The client note gives Twitter (TWTR) a buy rating and a $65 price target, lauding the recent moves by the company, including its recently-launched broadcasting video app Periscope.READ MORE: COVID Job Market: Signs Of Recovery As California Adds Jobs For 2nd Month
Jefferies believes that will help Twitter grab a significant portion of the online video advertising market, which has been led by Google’s YouTube for some time, but faces increasing pressure from other firms including Facebook.READ MORE: San Francisco Supervisor Joins Calls For Emergency Funding At City College Amid Looming Layoffs
Twitter had a big first quarter, with its stock rising 40 percent in the first three months of 2015, compared to a half-percent gain for the entire S&P 500.MORE NEWS: Oakland Unveils City’s Tallest Mural, Spotlighting World Hunger
Twitter shares were posting a solid gain on the note Wednesday mornign, in spite of the overall market pulling back for the second straight day.