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Twitter (TWTR) Set to Roll Out New Verification System

Zacks Equity Research

Twitter TWTR is reportedly set to launch a fresh authentication and verification process. The latest feature — Request Verification — would be added as an option in the social networking platform’s redesigned account settings.

Jane Manchun Wong was the first to announce about the company’s latest development on Jun 7 in a tweet stating “Twitter is working on “Request Verification”. Wong is a popular reverse engineer, who digs into social media platforms, including Twitter and Facebook FB, to discover new features before the same are rolled out.

The new feature is seen as a revamp of the company’s old public verification program which was shut down in 2017 after several controversies. The blue verified checkmark on Twitter reflects the accounts of public figures. In 2018, Twitter had stated that it would open verification to everyone but with significant changes.

However, the new verification feature is still in the development stage and the company hasn’t stated any timeline for introducing it to the public.

Twitter, Inc. Price and Consensus

Twitter, Inc. Price and Consensus

Twitter, Inc. price-consensus-chart | Twitter, Inc. Quote

New Features Attract Users

Twitter continues to add new features to attract users to its platform and drive engagement levels. Last month, the company stated that it is testing a new setting — Who Can Reply? The feature would let users limit the persons who can reply to their tweets.

Earlier this February, Twitter unveiled a feature — Continue Thread — through which users would no longer require to dig through tweets for replying to the older ones.

Twitter’s initiatives to add features and focus on effectively tackling abuse issues are helping it expand its monetized user base.

In its latest quarterly results, the company noted that the average monetizable daily active users (mDAU) increased to 166 million in first-quarter 2020 from the previous quarter’s 152 million and the year-ago quarter’s 134 million.

Average U.S. mDAU soared to 33 million in the March-end quarter compared with the year-ago quarter’s 28 million and the previous quarter’s 31 million. Moreover, average international mDAU increased to 133 million compared with the year-ago quarter’s 105 million and the previous quarter’s 121 million.

Zacks Rank & Stocks to Consider

Currently, Twitter carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader computer technology sector are NVIDIA Corporation NVDA and Micron Technology MU. Both stocks carry a Zacks Rank #2 (Buy) currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term earnings growth rate for NVIDIA and Micron is pegged at 16.9% and 10.3%, respectively.

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