TWITTER suffered its third analyst downgrade in the last two weeks yesterday when Cantor Fitzgerald gave the firm a sell rating.
Shares in the firm slumped 3.7 per cent yesterday to $59.2 (£35.9), adding to the firm’s six per cent fall already this year.
“We find Twitter’s valuation to be excessive and currently see materially more downside than upside,” said Cantor Fitzgerald analyst Youssef Squali.
On 27 December Macquarie slashed its rating to underperform and on Monday Morgan Stanley followed suit.
Of the 26 analysts that cover Twitter, 20 have the equivalent of hold or sell ratings on the stock.