At its current price of $54, Twitter’s stock (NYSE:TWTR) has a good upside potential. In recently released Q3 2021 earnings, Twitter saw revenue grow to $1.28 billion, up 37% y-o-y. The growth was led by advertising revenue which was $1.14 billion, up 41% y-o-y. This was led by an increase in total ad engagements (6% y-o-y) and Cost per engagement (CPE) (33% y-o-y). The company also had a one-time net litigation charge of $766 million to settle a shareholder class action lawsuit partially offset by an insurance recovery. Further, the company reported $1.16 billion of cash inflows from operating activities for the first nine months. Despite the recent fall post Q3 earnings, we believe the stock has an upside potential in the medium term.
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