Why Twitter (TWTR) Is Falling Today

NEW YORK (TheStreet) --Twitter (TWTR) fell 2.1% to $58.02 Thursday after Cowen initiated coverage of the social networker with an "underperform" rating.

Analysts John Blackledge and Thomas Champion started their coverage of Twitter with a price target of $32. The analysts surveyed 50 ad buyers, and found that "high minimum spend" was a chief complaint about Twitter and its advertising. Few of the ad buyers surveyed felt Twitter had the best ROI on ad spending, losing to Facebook (FB) and LinkedIn (LNKD).

TWTR Chart TWTR data by YCharts

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