The race against the clock of twitter Inc is intensifying. The firm is striving hard to enhance its much- but analysts said the challenge was to do that before advertisers and more users desert to Alphabet Inc’s and Facebook Inc Google.

Twitter, headed by co founder Jack Dorsey, said on Tuesday monthly active users but sales fell short of expectations. Facebook has about 1.6 billion users, and is growing rapidly.

The firm’s shares dropped almost 17 percent to $14.81 on Wednesday, their largest single-day percentage fall since August 24. In the previous 12 months, the business’s market value has dropped by more than $26 billion.

The prognosis will not look great either. The San Francisco, California-based company forecast second quarter earnings broadly below Wall Street expectations.

Of the 44 analysts covering Twitter, their cost objectives cut. Polar Research was the most bearish, slashing at its goal to $27 from $39.

“It is becoming abundantly clear that Twitter now not only endures from user exhaustion, but advertiser exhaustion as well … Twitter should be investing aggressively on advertising, R&D and possibly M&A, in an attempt to remain a related public company,” Moffett Nathanson analysts said.

Just two brokerages stayed bullish – Mizuho Securities and Goldman Sachs increased their price objectives.

The business’s stock has lost about two thirds of its worth in the last year, but is considerably more costly than most of its peers.

Twitter has enhanced the manner tweets seem when an user isn’t logged in and tweaked timelines that some tweets are prioritized over others.

It’s also signed a content streaming deal with the National Football League that could help its user base expands.

Video has also been a recent focus for the business. Twitter said on Tuesday its users were spending more hours sharing and viewing video, but added that advertisers’ budgets hadn’t yet changed from legacy marketing products such as tweets that were marketed.

“… the shift from legacy encouraged tweets to higher functionality advertising led to cannibalization of budgets,” Canaccord Genuity’s Michael Graham said.