Shares of San Francisco-based Twitter have rallied over the past several days as the social media giant has introduced several new measures to curb online harassment and abuse. Today, Twitter (Stock symbol: TWTR) closed up 2.52% on the day at $18.72 - a 54-day high.
In yesterday's blog post, Twitter VP of Engineering, Ed Ho, said Twitter is introducing three new improvements; blocking known abusers from creating new accounts; activating “safe search,” which improves the quality of users’ experience by removing problematic/damaging Tweets from search results; collapsing abusive and/or “low-quality” tweets, but the offensive message will still be accessible by users looking for them.
Ho said additional improvements are on the way in the coming weeks.
Twitter shares also got a boost today from Rich Greenfield, a Media & Tech Analyst at BTIG Research, who said in a
CNBC interview that he was upgrading TWTR to a BUY and assigned the stock a $25 price-target, citing user growth due to President Trump’s prolific usage of the social platform.
During the interview, Greenfield also mentioned Twitter’s continued efforts in making the platform more user-friendly, laying specific focus on the imroved explorer tab.
While President Trump in all likelihood gave Twitter a sizable boost in user growth and engagement, Twitter's
advertising revenues are projected to increase to $3.26 billion in 2017, and 3.93 billion in 2018, according to Statista. Twitter’s
active monthly user numbers grew to 56.8 million in 2016, and this figure is projected to increase in 2017 to 60.9 million.
Since the start of the week, Twitter shares have appreciated by approximately 5.75 percent:
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