Twitter share price: Company replaces product chief

on Oct 31, 2014
Updated: Apr 9, 2020
Listen

iNVEZZ.com, Friday, October 31: Twitter Inc (NYSE:TWTR) has sidelined Daniel Graf, the product chief it poached earlier this year from Google Inc (NASDAQ:GOOG), Reuters has reported. The latest executive change at Twitter comes in the wake of the microblogging service’s quarterly results which pointed to a slower pace of user growth.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Twitter’s share price has lost about 0.4 percent in early morning trading in New York.
*h*Twitter sidelines Daniel Graf*h*
Reuters yesterday quoted an unidentified source with knowledge of the matter as reporting that Twitter had replaced its product chief Daniel Graf. The source explained that Graf would now oversee strategic initiatives such as geo-location mobile features, while Kevin Weil, who was head of revenue-generating products, would take charge of all products at the microblogging platform.

Graf’s demotion comes after earlier this week Twitter reported that it had added 13 million monthly active users (MAU) in the three months to September 30, reaching 284 million MAU. (Twitter share price falls on disappointing quarterly metrics – https://invezz.com/news/equities/14257-Twitter-share-price-falls-on-disappointing-quarterly-metrics) While the number represented a 23 percent jumps year-on-year, it marked only a five percent increase as compared to the previous quarter and sent Twitter’s share price plunging in after-hours trading on Monday.

“”product team had suffered from indecision””
People familiar with the matter told the Wall Street Journal that Twitter’s product team had suffered from indecision, the result of leadership issues that, according to some of the people, had led to a risk-adverse attitude fearful of introducing big changes before the company’s initial public offering last November.
The news of the latest change at the top comes after earlier this week, Twitter’s top engineer and an analytics manager announced their departure from the company. (Twitter share price: COO steps down amid power struggle with Costolo)

*h*Analysts on Twitter*h*
As of October 29, the consensus forecast amongst 75 polled investment analysts covering Twitter for the Financial Times has it that the company will outperform the market. The 32 analysts offering 12-month price targets for the microblogging platform have a median target of $53.00, with a high estimate of $64.00 and a low estimate of $28.00. 
**As of 14:00 GMT, buy Twitter shares at $41.90.**
**As of 14:00 GMT, sell Twitter shares at $41.89.**

Ad

Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals™.

0/10
Learn more
Stock Market Tech