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Twitter (TWTR) Stock Plunges After Being Slapped With Downgrade

NEW YORK (TheStreet) -- Twitter (TWTR - Get Report) shares are tumbling 6.57% to $28.88 on Wednesday after analysts at Morgan Stanley this morning downgraded the microblogging service to "underweight" from "equal weight" and cut its price target to $24 from $36.

The firm cited limited user growth and slowing engagement.

Analysts are also bearish based on the fact that mobile ad competition is growing.

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By comparison, other platforms including Alphabet's (GOOGL) YouTube, Snapchat and Facebook's (FB) Instagram is seeing stronger engagement growth.

Additionally, Twitter's ad pricing is high, analysts noted.

Based in San Francisco, Twitter operates as a global platform for public self-expression and conversation in real time.

Separately, TheStreet Ratings team rates TWITTER INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

We rate TWITTER INC (TWTR) a SELL. This is driven by several weaknesses...