TwitterShares fell 10% Wednesday following disappointing user growth. Analysts expressed concern about the potential impact of Apple’s iOS privacy change.

It is available in its third-quarter earningsTwitter reported Tuesday that total monetizable users (mDAUs), increased by 13% to 212.1 million. This is less than the 21.9 million analysts expected, StreetAccount reports.

Only one million users grew in the U.S. (or less than 3%) over a year.

KeyBanc Capital Markets indicated that these numbers indicate that KeyBanc Capital Markets will not achieve its objectives. stated goal of 315 mDAUsThe end of 2023. Twitter’s price target was lowered by the firm from $81 per share to $70. The stock traded at $55.31 on Wednesday afternoon.

KeyBanc analysts wrote that Twitter must “materially accelerate U.S. growth” in order to achieve its goal. Their stock rating is still a Buy.

Third quarter revenues increased 37% over the prior year to $1.28 Billion. Twitter stated that the fourth quarter’s sales were expected to be in the range of $1.5 billion-$1.6 billion. However, analysts had predicted revenue of $1.58 trillion.

Twitter stated that Twitter’s impact was Apple’s iOS privacy change was less than expected in the period,And will be modest in the fourth quarter. Snap and FacebookBoth citedNew privacy features that allow users to choose not to receive targeted ads via apps are the primary reason why business was disrupted during the period.

Twitter is still being criticized by some analysts.

Jefferies stated that “continued uncertainty from iOS changes” was the reason it reduced its target price for the stock from $80 to $70.

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