A top equity research analyst has claimed that Twitter is “toast” as a company and has a massively overvalued share price, after another two executives left the company this week.
Trip Chowdhry, who is the managing director of equity research at Global Equities Research, renowned for analysis of technology stocks, issued a note on Tuesday that the company was “toast” and that “not even a $10 stock.”
“Many investors were foolishly building (an) investment thesis based on complete stupidity,” Chowdhry wrote.
Chowdhry also claimed that Twitter’s research data is “horrible,” and that the incorrect polling data in the run up to the presidential election was a sign of the low quality of data currently being collected.
“If data quality is bad, ad targeting is bad, and if ad targeting is bad, advertisers are not happy, and hence monetisation will remain challenging for Twitter,” he continued.
His verdict came after yet two top Twitter executives, chief technology officer Adam Messinger and vice president of product Adam Farland, both confirmed they were leaving the company.
The pair are the latest of a number of executives to jump ship over the past year, with leaders across the business leaving at a time of financial and political turmoil for the company.
Twitter’s current share price is $17.14 , down by over $5 from this time last year.
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