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    HL.   GB00B1VZ0M25

HARGREAVES LANSDOWN PLC

(HL.)
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Delayed Quote. Delayed London Stock Exchange - 01/25 11:36:38 am
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Twitter's 'part-time' boss steps down but new CEO pick appears to underwhelm investors

11/29/2021 | 11:57am EST

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown

''Such has been the consternation surrounding Jack Dorsey's 'part-time' role as CEO Twitter, that it's little surprise investors initially reacted positively to speculation that he was leaving the platform. But the initial euphoria fizzled out, as the new pick for the driving seat, Parag Agrawal, the current chief technology officer, appeared to underwhelm investors. Shares had surged 11% in the pre-market session and lifted 4.5% as trading resumed, before falling back and dropping into the red.

Of course, it's not the first time that Jack Dorsey has been and gone from the platform, and shareholders at first appeared confident that a successor will at the very least have more focus and fewer distractions. As well as juggling the role of CEO of the payments company Square, which has a $97 billion valuation, Dorsey has been an active cheerleader for crypto assets, with his tweets helping fuel bitcoin rallies, and he has also toyed with taking a career break in Africa. Quite what he will concentrate his high energy on next isn't clear, but it is likely that Parag Agrawal will at least bring a calmer sense of direction to the platform. He does still face a huge challenge to meet expectations given the ambitious goal the company has set itself to double annual revenue by 2023. The realisation of the mountain to scale and some disappointment that a Twitter outsider hasn't been brought in to offer fresh ideas, is likely to be behind the loss of initial gains.

The launch of Twitter Blue, a subscription version of the site, which offers ad-free scrolling is part of the plan to achieve revenue growth, but it's still unclear whether enough users in this often fractious arena will be willing to part with around $3 a month for a 'with frills' service. Given the big task ahead, it's likely that there may be a fresh period of volatility for Twitter, as Dorsey spreads his wings, while Agrawal assumes position on the CEO perch.''

NOTES FOR EDITORS

Media Contact:

Susannah Streeter

Senior Investment and Markets Analyst, Hargreaves Lansdown

susannah.streeter@hl.co.uk

07527 384747

@StreeterNews

About us

Over 1.67 million clients trust us with £138.0 billion (as at 30 September 2021), making us the UK's number one platform for private investors. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month.

Our purpose is to empower people to save and invest with confidence and help them build their financial resilience over the long-term. We provide a lifelong, secure home for people's savings and investments that offers great value and an incredible service making their financial life easy.

Clients rate our service highly, 90% say we are good, very good or excellent. Our expert research has been helping investors for almost 40 years through thick and thin.

In 2018, we also launched Active Savings, an online cash savings platform that lets savers move money easily between partner banks and building societies to help their money work harder without the hassle.

Find out more about HL and our history, what it's like to work with us, and how we support our community, including our response to the COVID-19 pandemic.

Press centre: https://www.hl.co.uk/about-us/press

Investor relations: www.hl.co.uk/investor-relations

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(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials
Sales 2022 605 M 817 M 817 M
Net income 2022 257 M 347 M 347 M
Net cash 2022 483 M 652 M 652 M
P/E ratio 2022 24,5x
Yield 2022 3,30%
Capitalization 6 290 M 8 486 M 8 494 M
EV / Sales 2022 9,59x
EV / Sales 2023 8,70x
Nbr of Employees 1 839
Free-Float 71,6%
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Technical analysis trends HARGREAVES LANSDOWN PLC
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TrendsBearishBearishBearish
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 16
Last Close Price 1 327,50 GBX
Average target price 1 651,07 GBX
Spread / Average Target 24,4%
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Managers and Directors
Christopher Frederick Hill Chief Executive Officer & Executive Director
Philip Michael Johnson Chief Financial Officer & Executive Director
Deanna Watson Oppenheimer Non-Executive Chairman
Mark William Dampier Head-Investment Research
Robert Byett Head-Compliance
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