Twitter Inc.’s fourth-quarter earnings showed a company that was still struggling with user growth issues and revenue problems.

Analysts do not see those problems ending soon.

Shares of Twitter TWTR, -0.63% fell about 5% in Friday afternoon trading after several firms downgraded the stock because of missed revenue expectations. Twitter’s earnings miss was compounded by a weak outlook and flat user growth, which caused several analysts to say the company is in a revenue spiral.

Shares of Twitter have fallen 14.9% in the past three months, while the S&P 500 index SPX, -0.84% has gained 6.8% in that time.

Here’s what analysts said:

- Though Twitter pointed to accelerated growth in daily active users, Deutsche Bank analysts said they were disturbed by the company's flat monthly active users, especially given what they estimate is President Donald Trump’s average of seven tweets a day in the last month.

Deutsche Bank downgraded Twitter to buy from hold and cut their price target to $15 from $22.

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Twitter did appear to show positive growth with its live video streaming, as unique visitors for its Thursday night National Football League live streams increased by 1.15 million and reached a younger audience. This is where the analysts say Twitter can drive growth, though they note that it is unlikely to occur in 2017.

“We would get positive on signs of stability in the core ad products and/or with more visibility into when video can drive overall growth,” wrote Lloyd Walmsley, the lead Deutsche Bank analyst.

- Raymond James analysts downgraded Twitter to underperform from market perform, saying the company’s revenue growth is “increasingly challenging,” with Twitter noting that revenue growth will lag behind audience growth in 2017.

They see fair value for Twitter shares at around $10, while shares were trading around $15.60 Friday. If Twitter is not acquired, they see shares continuing to move lower.

- Citi analysts downgraded the stock to sell from neutral, saying they expected “disappointing results,” but that Twitter’s revenue and outlook were “worse than we expected.” They cut their price target to $13 from $18.

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The analysts expect a 13% decline in net revenue in the first quarter of 2017 and a 5% decline for the calendar year. For 2017, the analysts expect margins to decrease to 25%.

“We expect Twitter to experience revenue and margin challenges for the foreseeable future,” wrote Mark May, lead analyst on the report.

Twitter Revenue Woes Continue, and More

- UBS analysts downgraded the stock to sell from neutral and lowered the price target to $12 from $18.

Twitter needs “two wings” to succeed, the analysts said, and Twitter is struggling with both user growth and advertising dollars. Twitter needs to reposition its ad business, the analysts said, to focus on a smaller group of advertising products that are video-based.

- Twitter’s revenue struggles and lowered guidance come down to competition from other social networks, according to Cowen analysts, namely Facebook Inc. FB, -3.30% and its Instagram subsidiary. This translates to ad budgets leaving Twitter for the competition, which Cowen analysts estimate will results in an advertising revenue decline of 17% in 2017.

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Cowen analysts downgraded the stock to underperform from market perform and cut their price target to $12 from $15.

They added that they believe there is still a possibility of a “white knight,” or a larger company that comes in to acquire Twitter.