Twitter Inc (TWTR)

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Earnings Preview: Twitter Inc. (NYSE: TWTR)
By: 24/7 Wall St. | July 20, 2022

• Here is a look at four firms on deck to report results after markets close on Thursday or before they open on Friday.

Twitter

In early April, Tesla CEO Elon Musk announced a $44 billion offer to take Twitter Inc. (NYSE: TWTR) private. Since the company’s board accepted the offer ($54.20 per share) on April 25, Twitter’s share price has fallen by nearly 24%. Musk has withdrawn his offer, Twitter has filed a lawsuit and a Delaware judge set aside five days in October to hear the case. The outcome of the dispute may have a bigger impact on Twitter’s share price than anything else the company does to boost its fortunes in the battle against TikTok. Twitter reports quarterly results early Friday.

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Of 36 brokerages covering the stock, there are 30 Hold ratings and four Buy or Strong Buy ratings. At a share price of around $39.50, the upside potential based on a median price target of $49.00 is 24%. At the high price target of $55.00, the upside potential is 39.2%.

For the second quarter, revenue is forecast at $1.34 billion, up 11.5% sequentially and by 12.6% year over year. Adjusted EPS are forecast at $0.14, down 84.4% sequentially and 30.0% lower year over year. For full fiscal 2022, consensus estimates call for EPS of $1.65, up 726.8%, on revenue of $5.85 billion, up 15.3%.

Twitter stock trades at 23.9 times expected 2022 EPS, 33.4 times estimated 2023 earnings of $1.18 and 25.3 times estimated 2024 earnings of $1.56 per share. The 52-week trading range is $31.30 to $73.34. The company does not pay a dividend. Total shareholder return for the past year is negative 40.2%.

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