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Twitter Acquires Podcast Operator Breaker; Street Sees 13% Downside

Twitter has purchased social podcast operator Breaker for an undisclosed sum, Breaker’s CEO Erik Berlin introduced on Monday by way of a weblog posted on the corporate’s web site.

Based on Berlin’s weblog put up his group will likely be becoming a member of Twitter (TWTR) to assist “create new experiences” for the social media big’s customers. On account of the deal, he introduced that the corporate’s social podcasting app will likely be shut down on Jan. 15.

“We’re really captivated with audio communication and we’re impressed by the methods Twitter is facilitating public conversations for individuals around the globe,” Berlin commented. “We’re impressed by the entrepreneurial spirit at Twitter and enthusiastic in regards to the new experiences that the group is creating.” (See TWTR stock analysis on TipRanks)

Breaker’s Chief Expertise Officer Leah Culver posted in a tweet that she will likely be becoming a member of Twitter to work on the social media big’s new audio-based networking undertaking, Twitter Areas.

On Dec. 18, Merrill Lynch analyst Justin Post reiterated his Purchase score and a worth goal of $58 (6.4% upside potential) on the inventory. Submit has named Twitter as one in every of his two prime on-line media restoration performs for 2021 alongside Alphabet Inc and sees upside forward.

In the meantime, the inventory has an analyst consensus of a Maintain based mostly on 18 Holds, 7 Buys, and 1 Promote. The common price target of $47.50 implies draw back potential of about 12.9% to present ranges. Shares have gained by about 73% over the previous 12 months.

TWTR

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