+6 C°
Traffic jam:   3

Twitter shares after new CEO joins

7 December 2021
2 min.
Twitter shares after new CEO joins

Twitter shares

Shares of (TWTR) rose for the first time (up 5.7%) on Monday following news of Jack Dorsey's departure and new CEO Parag Agrawal. Cathie Wood's Ark Invest fund bought 1.1 million shares in Twitter following the management change. Here's what market analysts think.

Investors seem to have finally seen potential for Twitter (TWTR) in the change in management, and the fall in shares as a good opportunity to buy at the IPO price.

Twitter shares fell almost 10% last week after the company announced on Monday 29 November that its founder Jack Dorsey was stepping down as Twitter's CEO and the board unanimously appointed CTO Parag Agrawal as his successor.

Twitter shares were up 5.7% on Monday 6 December, although their price was almost equal to the closing price on the first day of trading on the NYSE on 7 November 2013. Twitter shares have lost nearly 18% since the start of 2021.

At the same time, 2021 has not been an easy year for Twitter's competitors. Snap (SNAP) shares are down 4.3% since the start of the year, while Pinterest (PINS) shares are down as much as 42.6%. Shares in Facebook (FB), recently renamed Meta (MVRS), the largest and best monetised social network, are up 16.4% YTD, but lost almost 17% in the last quarter.

Analyst Truist Youssef Squali believes that Twitter's current state of affairs is "largely due to the mixed results of the past few years".

At the same time, if we compare Twitter's average revenue growth rate of 42% over the last 4 quarters to its competitors, it appears to be close to Facebook's 43% results. Snap and Pinterest's revenues have grown faster on average over the last 4 quarters: 75.5% and 71% respectively.

In any case, Wall Street analysts see the appointment of a new CEO as an opportunity for Twitter's future growth. Hiring an executive with a long history of experience in the company is always better than appointing an outside expert. The CTO, with seven years of experience at Twitter Parag Agrawal may also prove more effective in the role compared to Dorsey, who has been combining the leadership of Twitter since 2015, while also being the head of Square (SQ).

On Friday, the new CEO reorganised Twitter's leadership to improve its consumer, advertising and technology operations.

Elliot Turner, chief investment officer at RGA Investment Advisors, described Twitter as a "strategically important platform" whose stock is now cheap by all objective measures.

Persons4 and Companies9 in the news

Analyst at Truist Securities
1 place
Former Chief Executive Officer of Twitter
2 place
Chief Executive Officer of Ark Invest
3 place
Chief Executive Officer of Square
4 place
Meta Platforms
2 place
Ark Invest
3 place
5 place
6 place
7 place
8 place
9 place


Rating companies
82 Mention
Dow Jones
69 Mention
33 Mention
25 Mention
25 Mention
Bloomberg L.P.
23 Mention
JPMorgan Chase
18 Mention
18 Mention
16 Mention


News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Died this year
Born this year