(CercleFinance.com) – Jefferies estimates that Q2 results were weak, as expected, with advertising revenue growth of only 2% per year and high expenditure growth (+26% per year). ex-SBC).
‘ Given the weakening advertising market, we are lowering our FY2023 revenue estimate to $6 billion (estimated 13% growth), which is well below the estimate of more than $7.5 billions of dollars from February 2021 ‘says Jefferies.
“We believe the most likely outcome of the Musk lawsuit is a renegotiation of the purchase below the initial offer of $54.20,” the analysts added.
Following this results announcement, Jefferies confirms its advice to hold on the value with a target of $40.
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