{"id":667,"date":"2016-01-05T20:55:01","date_gmt":"2016-01-05T20:55:01","guid":{"rendered":"https:\/\/cityfalcon.com\/blog\/?p=667"},"modified":"2017-10-05T11:49:48","modified_gmt":"2017-10-05T11:49:48","slug":"twitter-is-the-stock-to-own-for-2016-for-me","status":"publish","type":"post","link":"https:\/\/www.cityfalcon.ai\/blog\/fr\/investments\/twitter-is-the-stock-to-own-for-2016-for-me\/","title":{"rendered":"Twitter est le stock \u00e0 poss\u00e9der pour 2016 pour moi"},"content":{"rendered":"<br \/>\n<style>\n.wp-caption {\nmax-width: 100% !important;\n}\n iframe {\nmax-width: 100%; hight: auto;\n}\n<\/style>\n<p><strong>Sommaire<\/strong><\/p>\n<ul>\n<li>Twitter propose toujours des offres uniques sur d&#039;autres r\u00e9seaux sociaux.<\/li>\n<li>Alors que la MAU et la croissance des revenus ont diminu\u00e9, plus de 300 millions d&#039;UAM constituent d\u00e9j\u00e0 une base solide, et la croissance des revenus de 30-40% est respectable. Twitter a refus\u00e9 40% au cours de l&#039;ann\u00e9e derni\u00e8re et 70% au cours des deux derni\u00e8res ann\u00e9es. Cette vente semble injustifi\u00e9e.<\/li>\n<li>J&#039;ai cependant quelques inqui\u00e9tudes - un PDG \u00e0 temps partiel, une mauvaise conservation des tweets, l&#039;automatisation sur le site et les relations avec les d\u00e9veloppeurs d&#039;applications.<\/li>\n<li>Avec un EV de $14bn et disons avec une prime de 30% par rapport au cours de l&#039;action, la soci\u00e9t\u00e9 est un bon candidat au rachat, en particulier pour Google, Microsoft et Alibaba.<\/li>\n<li>L&#039;action est disponible \u00e0 des ratios EV \/ EBITDA et EV \/ MAU inf\u00e9rieurs \u00e0 ceux de Facebook et LinkedIn. Mon objectif sur le stock est $35 dans 12 \u00e0 18 mois.<\/li>\n<li>Vous pouvez suivre gratuitement les actualit\u00e9s financi\u00e8res et les tweets en temps r\u00e9el sur <a href=\"http:\/\/www.cityfalcon.com\/watchlists?assets=TWTR\" target=\"_blank\" rel=\"noopener noreferrer\">CityFALCON<\/a>.<\/li>\n<\/ul>\n<p>J&#039;utilise Twitter plusieurs fois par jour en tant qu&#039;utilisateur; mon \u00e9quipe et moi utilisons leurs API; nous autorisons les tweets financiers de GNIP et nous commercialisons nos produits via leur plate-forme publicitaire. Donc, je n&#039;analyse pas seulement leurs produits et leurs chiffres;\u00a0<strong>Je les vis<\/strong>.<\/p>\n<p>Dans mon\u00a0<a href=\"http:\/\/seekingalpha.com\/article\/2248733-twitter-could-be-a-5b-business-with-2b-ebitda-by-2016-even-with-slowing-user-growth\" target=\"_blank\" rel=\"noopener noreferrer\">Juin 2014<\/a>\u00a0article sur Seeking Alpha, j&#039;avais expliqu\u00e9 pourquoi je pensais que Twitter pouvait \u00eatre une entreprise de $5bn avec un EBITDA de $2bn d&#039;ici 2016. L&#039;action avait bien perform\u00e9 apr\u00e8s la publication de l&#039;article avec un gain de 61% en trois mois, mais comme vous pouvez le voir aujourd&#039;hui, j&#039;\u00e9tais faux dans mes projections. Cependant, je reste optimiste sur les affaires.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60483\" src=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-1.png\" sizes=\"(max-width: 644px) 100vw, 644px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-1.png 644w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-1-300x96.png 300w\" alt=\"twitter 1\" width=\"644\" height=\"206\" \/><\/p>\n<p><em>Source: Recherche Alpha<\/em><\/p>\n<p><strong>Twitter offre toujours des fonctionnalit\u00e9s uniques sur d&#039;autres r\u00e9seaux sociaux<\/strong><\/p>\n<p>Les analystes comparent Twitter non seulement avec Facebook et LinkedIn, mais \u00e9galement avec SnapChat et Instagram. Bien qu&#039;il existe un certain chevauchement des segments cibles, je pense que Twitter offre des fonctionnalit\u00e9s uniques:<\/p>\n<p>- Twitter est utilis\u00e9 comme moyen de diffusion par des politiciens, des c\u00e9l\u00e9brit\u00e9s, des influenceurs, etc., et un seul tweet de l&#039;une de ces personnes ram\u00e8ne les fans sur le site. Si Facebook vous permet de faire de m\u00eame, la consommation de contenu n&#039;est pas aussi simple qu&#039;avec Twitter.<br \/>\n- Twitter repense sa limite de 140 caract\u00e8res, mais je pense que cela fonctionne bien car les tweets sont succincts par rapport aux histoires sur, par exemple, Linkedin et Facebook. Il y a plus d&#039;articles par \u00e9cran sur Twitter que sur d&#039;autres plateformes de m\u00e9dias sociaux.<br \/>\n- Vous pouvez suivre non seulement des personnes, mais \u00e9galement des sujets et des hashtags. Alors que d&#039;autres plateformes ont adopt\u00e9 des hashtags, elles ont eu du mal \u00e0 affecter la position de leader de Twitter.<br \/>\n- Les Cashtags, par exemple $AAPL pour l&#039;action Apple, sont largement utilis\u00e9s non seulement par la communaut\u00e9 financi\u00e8re sur Twitter, mais aussi par de grandes publications comme le Financial Times, le Wall Street Journal et Seeking Alpha.<br \/>\n- Les donn\u00e9es de Twitter suscitent un vif int\u00e9r\u00eat de la part des institutions financi\u00e8res et des entreprises, ce qui devrait contribuer \u00e0 la croissance de leurs revenus de licences. Les tweets de Carl Icahn, Elon Musk, Tim Cook, Hillary Clinton, etc.\u00a0<a href=\"http:\/\/cityfalcon.com\/blog\/twitter-for-investors-and-traders\/2-4-million-reasons-investors-cant-ignore-twitter\/\" target=\"_blank\" rel=\"noopener noreferrer\">impact significatif sur le cours des actions<\/a>. Les analystes de la Banque d&#039;Angleterre pensent <a href=\"http:\/\/www.cityam.com\/222524\/bank-england-analysts-believe-twitter-could-help-predict-bank-run-early-signs-unemployment\" target=\"_blank\" rel=\"noopener noreferrer\">&quot;Twitter pourrait aider \u00e0 pr\u00e9dire une crise bancaire, les premiers signes de donn\u00e9es sur le ch\u00f4mage et les mouvements du march\u00e9&quot;<\/a>. M\u00eame la BCE dit que\u00a0<a href=\"http:\/\/uk.businessinsider.com\/ecb-twitter-bullishness-stock-market-moves-2015-7\" target=\"_blank\" rel=\"noopener noreferrer\">\u00abTwitter peut pr\u00e9dire le march\u00e9 boursier\u00bb<\/a>.<\/p>\n<p><strong>Ce qui me pr\u00e9occupe sur Twitter<\/strong><\/p>\n<p>- PDG \u00e0 temps partiel - En tant que dirigeant de sa propre start-up, je ne peux pas imaginer un PDG dirigeant deux entreprises. Pourquoi ne pas avoir Jack Dorsey comme conseiller et embaucher un PDG \u00e0 temps plein?!<br \/>\n- Produit - Ils ont consid\u00e9rablement am\u00e9lior\u00e9 le processus d&#039;int\u00e9gration des nouveaux utilisateurs et ajout\u00e9 des analyses (ce que j&#039;adore!), Mais ils ont encore beaucoup \u00e0 faire pour am\u00e9liorer l&#039;exp\u00e9rience utilisateur globale sur le site. En outre, leur produit publicitaire doit \u00eatre consid\u00e9rablement am\u00e9lior\u00e9 par rapport \u00e0 Facebook. En tant que sp\u00e9cialiste du marketing, je tire plus de valeur de Facebook que de Twitter et Linkedin.<br \/>\n- Curation des tweets - Twitter doit aider les utilisateurs \u00e0 comprendre le sens des tweets. Il y a en moyenne\u00a0<a href=\"http:\/\/www.internetlivestats.com\/twitter-statistics\/\" target=\"_blank\" rel=\"noopener noreferrer\">500 millions de tweets<\/a>par jour, et votre chronologie peut \u00eatre occup\u00e9e apr\u00e8s avoir suivi seulement quelques comptes!<br \/>\n- L&#039;automatisation des tweets et des messages directs affecte l&#039;exp\u00e9rience sur la plateforme. Twitter propose des API riches en fonctionnalit\u00e9s qui permettent aux utilisateurs et aux d\u00e9veloppeurs d&#039;automatiser les tweets et les messages. Cela peut entra\u00eener, par exemple, un message direct chaque fois que vous suivez quelqu&#039;un ou que vous pr\u00e9f\u00e9rez automatiquement les tweets en fonction du contenu, etc. De plus, plusieurs faux profils sont cr\u00e9\u00e9s pour mon\u00e9tiser le comportement automatis\u00e9 sur le site. En tant que d\u00e9veloppeur d&#039;applications, je peux voir que Twitter travaille d\u00e9j\u00e0 \u00e0 r\u00e9soudre ce probl\u00e8me.<br \/>\n- La d\u00e9cision de Twitter de couper Meerkat apr\u00e8s l&#039;acquisition de Periscope a affect\u00e9 l&#039;enthousiasme des d\u00e9veloppeurs pour la cr\u00e9ation d&#039;applications sur Twitter. Apr\u00e8s que Jack a pris ses fonctions de PDG, il a essay\u00e9 d&#039;am\u00e9liorer les relations avec les d\u00e9veloppeurs.<\/p>\n<p><strong>La croissance des utilisateurs de Twitter a diminu\u00e9, mais les MAU de 300 millions constituent d\u00e9j\u00e0 une base d&#039;utilisateurs solide \u00e0 mon\u00e9tiser<\/strong><\/p>\n<p>Il est facile de regarder les MAU de Facebook de 1,5 milliard et de s&#039;attendre \u00e0 ce que chaque r\u00e9seau social atteigne ce nombre, mais cela ne se produira pas. Il est difficile de cro\u00eetre \u00e0 un rythme \u00e9lev\u00e9 lorsque votre base d&#039;utilisateurs est d\u00e9j\u00e0 sup\u00e9rieure \u00e0 300 millions.<\/p>\n<p><img decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60484\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-2.png\" sizes=\"(max-width: 644px) 100vw, 644px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-2.png 644w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-2-300x150.png 300w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-2-400x200.png 400w\" alt=\"twitter 2\" width=\"644\" height=\"322\" \/><\/p>\n<p><em>Source: R\u00e9sultats publi\u00e9s<\/em><\/p>\n<p><img decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60485\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-3.png\" sizes=\"(max-width: 644px) 100vw, 644px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-3.png 644w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-3-300x150.png 300w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-3-400x200.png 400w\" alt=\"twitter 3\" width=\"644\" height=\"323\" \/><\/p>\n<p><em>Source: R\u00e9sultats publi\u00e9s<\/em><\/p>\n<p>Je m&#039;attends \u00e0 ce que Twitter se d\u00e9veloppe \u00e0 un rythme l\u00e9g\u00e8rement sup\u00e9rieur \u00e0 la croissance de la p\u00e9n\u00e9tration d&#039;Internet. Le p\u00e9riscope et d&#039;autres fonctionnalit\u00e9s d&#039;engagement pourraient alimenter une croissance plus \u00e9lev\u00e9e. \u00c0 ce stade, je me concentrerais sur la r\u00e9tention et la mon\u00e9tisation des utilisateurs existants.<\/p>\n<p><strong>La publicit\u00e9 est un march\u00e9 relativement sous-exploit\u00e9 pour Twitter<\/strong><\/p>\n<p>Sur une base TTM, Twitter a g\u00e9n\u00e9r\u00e9 $1,8 milliard de revenus publicitaires, contre $15bn pour Facebook et $60bn pour Google. Twitter a une \u00e9norme opportunit\u00e9 d&#039;augmenter sa part du g\u00e2teau publicitaire en mon\u00e9tisant sa base d&#039;utilisateurs de 300 millions et plus.<\/p>\n<p>Revenu = Nombre d&#039;utilisateurs x Revenu moyen par utilisateur (ARPU). Nous avons d\u00e9j\u00e0 examin\u00e9 les utilisateurs, alors regardons maintenant ARPU.<\/p>\n<p><strong>ARPU<\/strong><\/p>\n<p>Facebook et Twitter reposent principalement sur les revenus publicitaires, tandis que LinkedIn g\u00e9n\u00e8re \u00e9galement des revenus gr\u00e2ce \u00e0 ses services \u00abd&#039;abonnement premium\u00bb et \u00absolutions de talents\u00bb. Cependant, comme notre objectif principal est Twitter, nous examinerons uniquement les revenus publicitaires dans cet article.<\/p>\n<p>Lorsque vous regardez l&#039;ARPU annualis\u00e9 mondial dans le graphique ci-dessous, vous pouvez voir que l&#039;ARPU de Twitter est similaire \u00e0 celui de LinkedIn, mais seulement la moiti\u00e9 de celui de Facebook.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60486\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-4.png\" sizes=\"(max-width: 644px) 100vw, 644px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-4.png 644w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-4-300x150.png 300w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-4-400x200.png 400w\" alt=\"twitter 4\" width=\"644\" height=\"323\" \/><\/p>\n<p><em>Source: analyse personnelle, r\u00e9sultats publi\u00e9s<\/em><\/p>\n<p>Si vous d\u00e9composez davantage les graphiques ARPU des \u00c9tats-Unis et du reste du monde (ROW), vous pouvez voir que Twitter a un plus grand \u00e9cart avec Facebook dans ROW. Notez que LinkedIn ne fournit pas de ventilation g\u00e9ographique similaire.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60487\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-5.png\" sizes=\"(max-width: 644px) 100vw, 644px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-5.png 644w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-5-300x150.png 300w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-5-400x200.png 400w\" alt=\"twitter 5\" width=\"644\" height=\"323\" \/><\/p>\n<p><em>Source: analyse personnelle, r\u00e9sultats publi\u00e9s<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60488\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-6.png\" sizes=\"(max-width: 644px) 100vw, 644px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-6.png 644w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-6-300x150.png 300w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-6-400x200.png 400w\" alt=\"twitter 6\" width=\"644\" height=\"323\" \/><\/p>\n<p><em>Source: analyse personnelle, r\u00e9sultats publi\u00e9s<\/em><\/p>\n<p><strong>La croissance de l&#039;EBITDA est encourageante<\/strong><\/p>\n<p>L&#039;EBITDA a augment\u00e9 r\u00e9guli\u00e8rement pour atteindre $142m au troisi\u00e8me trimestre 2015 avec une croissance en glissement annuel de 109% et une marge de 25%. En raison des co\u00fbts semi-variables du compte de r\u00e9sultat, toute croissance du chiffre d&#039;affaires devrait se traduire par une croissance beaucoup plus \u00e9lev\u00e9e de l&#039;EBITDA.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60489\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-7.png\" sizes=\"(max-width: 618px) 100vw, 618px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-7.png 618w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-7-300x150.png 300w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-7-400x200.png 400w\" alt=\"twitter 7\" width=\"618\" height=\"310\" \/><\/p>\n<p><em>Source: R\u00e9sultats publi\u00e9s<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60490\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-8.png\" sizes=\"(max-width: 618px) 100vw, 618px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-8.png 618w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-8-300x150.png 300w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-8-400x200.png 400w\" alt=\"twitter 8\" width=\"618\" height=\"310\" \/><\/p>\n<p><em>Source: R\u00e9sultats publi\u00e9s<\/em><\/p>\n<p><strong>La valorisation de Twitter est tentante par rapport \u00e0 Facebook et LinkedIn<\/strong><\/p>\n<p>Twitter a d\u00e9clin\u00e9 40% au cours de la derni\u00e8re ann\u00e9e et 70% au cours des deux derni\u00e8res ann\u00e9es. Le titre est d\u00e9sormais cot\u00e9 \u00e0 un EV de seulement $14bn, soit la moiti\u00e9 de celui de LinkedIn. M\u00eame en comparaison avec les indicateurs EV \/ EBITDA et EV \/ MAU, le stock est beaucoup moins cher que Facebook et LinkedIn.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60491\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-9.png\" sizes=\"(max-width: 644px) 100vw, 644px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-9.png 644w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-9-300x130.png 300w\" alt=\"twitter 9\" width=\"644\" height=\"278\" \/><\/p>\n<p><em>Source: analyse personnelle, r\u00e9sultats publi\u00e9s, Google Finance<\/em><\/p>\n<p><strong>Twitter pourrait \u00eatre une cible de rachat pour Google, Microsoft ou m\u00eame Alibaba<\/strong><\/p>\n<p>M\u00eame si Google peut revendiquer une bonne croissance de Google+, je ne suis pas trop optimiste sur le produit. Je pense que l&#039;essentiel de leur croissance provient du fait que leur grande base d&#039;utilisateurs est oblig\u00e9e d&#039;utiliser Google+ \u00e0 partir de leurs autres produits \u00e0 succ\u00e8s tels que Gmail. De plus, l&#039;int\u00e9gration des tweets dans les r\u00e9sultats de recherche est d\u00e9j\u00e0 un bon d\u00e9but pour la relation Google-Twitter.<\/p>\n<p>D&#039;autres pr\u00e9tendants pourraient inclure Microsoft (il a d\u00e9sesp\u00e9r\u00e9ment besoin d&#039;un r\u00e9seau social) ou Alibaba (il veut se d\u00e9velopper de mani\u00e8re agressive en dehors de la Chine). Avec un VE de seulement $14bn et disons une prime de 30%, l&#039;achat en esp\u00e8ces + actions est abordable pour la plupart de ces entreprises.<\/p>\n<p><strong>Une meilleure mon\u00e9tisation des donn\u00e9es pourrait am\u00e9liorer encore le stock<\/strong><\/p>\n<p>L&#039;int\u00e9gration des tweets dans les r\u00e9sultats de Google, la mon\u00e9tisation des utilisateurs d\u00e9connect\u00e9s, l&#039;octroi de licences de contenu aux institutions financi\u00e8res et aux entreprises pourraient augmenter les revenus et l&#039;EBITDA.<\/p>\n<p><strong>Mon objectif sur le stock est $35 dans 12-18 mois<\/strong><\/p>\n<p>Voici mon calcul de prix cible. J&#039;ai suppos\u00e9 que les MAU augmenteraient \u00e0 un TCAC de 9%, que la marge d&#039;EBITDA passera \u00e0 35% (la plupart des soci\u00e9t\u00e9s Internet g\u00e9n\u00e8rent un EBITDA de 30%-50%) et que l&#039;action sera cot\u00e9e \u00e0 15 fois EV \/ EBITDA, ce qui est beaucoup plus bas que son TTM EV \/ EBIDTA de 26 fois.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60492\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-10.png\" sizes=\"(max-width: 557px) 100vw, 557px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-10.png 557w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-10-265x300.png 265w\" alt=\"twitter 10\" width=\"557\" height=\"630\" \/><\/p>\n<p><em>Source: analyse personnelle, r\u00e9sultats publi\u00e9s, Google Finance<\/em><\/p>\n<p>Le tableau de sensibilit\u00e9 ci-dessous pr\u00e9sente le cours cible de l&#039;action en fonction de vos attentes de MAU et d&#039;ARPU en 2017.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" style=\"max-width: 100%; height: auto;\" class=\"aligncenter size-full wp-image-60493\" src=\"http:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-11.png\" sizes=\"(max-width: 557px) 100vw, 557px\" srcset=\"https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-11.png 557w, https:\/\/masterinvestor.co.uk\/wp-content\/uploads\/2016\/01\/twitter-11-300x175.png 300w\" alt=\"twitter 11\" width=\"557\" height=\"325\" \/><\/p>\n<p><em>Source: propre analyse<\/em><\/p>\n<p><b>Conclusion<\/b><\/p>\n<p><em>\u00abJe dirigerais l&#039;entreprise de mani\u00e8re \u00e0 cr\u00e9er le plus de valeur au cours des cinq ou dix prochaines ann\u00e9es. Vous ne pouvez pas g\u00e9rer une entreprise pour essayer de g\u00e9rer le stock tous les jours. Berkshire a baiss\u00e9 le 50% quatre fois dans son histoire. Lorsque cela se produit, si vous avez de l&#039;argent, vous l&#039;achetez. <\/em><\/p>\n<p>- Warren Buffet<\/p>\n<p>Nous avons vu Apple et Facebook baisser de mani\u00e8re significative en raison de ne pas r\u00e9pondre aux attentes des analystes, mais d&#039;atteindre par la suite de nouveaux sommets sans pr\u00e9c\u00e9dent. Apple est pass\u00e9 de $100 en septembre 2012 \u00e0 $55 en avril 2013, et cite actuellement $105. De m\u00eame, FB est pass\u00e9 de $38 en mai 2012 \u00e0 $18 en ao\u00fbt 2012, et cite maintenant \u00e0 $105.<\/p>\n<p>Je ne sais pas si Twitter atteindra bient\u00f4t son plus haut niveau historique de $69, mais j&#039;esp\u00e8re une hausse de 50% dans l&#039;action avec un cours cible de $35 au cours des 12 \u00e0 18 prochains mois.<\/p>\n<p>Passez une ann\u00e9e 2016 amusante, productive et rentable!<\/p>\n<p><strong><em>Avertissement<\/em><\/strong><\/p>\n<p><em>Je suis Long Twitter et j&#039;ai une relation commerciale avec Twitter via ma start-up FinTech\u00a0<a href=\"http:\/\/www.cityfalcon.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">CityFALCON<\/a>. <\/em><\/p>\n<p><strong><em>Limitation de l&#039;analyse<\/em><\/strong><\/p>\n<p><em>Les donn\u00e9es ont \u00e9t\u00e9 accumul\u00e9es \u00e0 partir de diff\u00e9rentes sources, qui peuvent avoir des d\u00e9finitions diff\u00e9rentes des param\u00e8tres, et par cons\u00e9quent, cette analyse doit \u00eatre consid\u00e9r\u00e9e comme indicative, et les investisseurs doivent faire leur propre diligence raisonnable avant de prendre toute d\u00e9cision.<\/em><\/p>\n<p>&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>R\u00e9sum\u00e9 Twitter propose toujours des offres uniques sur d&#039;autres r\u00e9seaux sociaux. Alors que la MAU et la croissance des revenus ont diminu\u00e9, plus de 300 millions d&#039;UAM constituent d\u00e9j\u00e0 une base solide et la croissance des revenus de 30-40% est respectable. Twitter a refus\u00e9 40% au cours de l&#039;ann\u00e9e derni\u00e8re\u2026<\/p>\n<p><a href=\"http:\/\/www.cityfalcon.com\/blog\/investments\/twitter-is-the-stock-to-own-for-2016-for-me\/\">Continuer la lecture \u2192<\/a><\/p>","protected":false},"author":1,"featured_media":671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[20],"tags":[26],"class_list":["post-667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investments","tag-twitter"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Twitter is the stock to own for 2016 for me<\/title>\n<meta name=\"description\" content=\"In my June 2014 article on Seeking Alpha, 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