Wells Fargo & Company Reaffirms “Hold” Rating for Twitter, Inc. (TWTR)

Twitter, Inc. (NYSE:TWTR)‘s stock had its “hold” rating reiterated by stock analysts at Wells Fargo & Company in a report released on Friday, May 12th. They presently have a $14.50 target price on the social networking company’s stock. Wells Fargo & Company’s target price would suggest a potential downside of 13.02% from the stock’s current price.

A number of other brokerages have also recently weighed in on TWTR. Canaccord Genuity lowered their price target on Twitter from $18.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, February 9th. Morgan Stanley lowered their price target on Twitter from $13.50 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, February 9th. Royal Bank Of Canada decreased their target price on Twitter from $14.00 to $12.00 and set an “underperform” rating on the stock in a report on Thursday, February 9th. FBN Securities decreased their target price on Twitter from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, February 9th. Finally, Evercore ISI decreased their target price on Twitter from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, February 9th. Seventeen analysts have rated the stock with a sell rating, twenty-three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Twitter currently has a consensus rating of “Hold” and a consensus price target of $15.82.

Analyst Recommendations for Twitter (NYSE:TWTR)

Twitter (NYSE TWTR) traded down 0.95% during midday trading on Friday, hitting $16.67. 9,939,429 shares of the company’s stock traded hands. The company has a 50 day moving average of $18.01 and a 200-day moving average of $16.78. Twitter has a 52 week low of $14.12 and a 52 week high of $25.25. The company’s market capitalization is $12.09 billion.

Twitter (NYSE:TWTR) last issued its earnings results on Wednesday, April 26th. The social networking company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.27. The business had revenue of $548 million during the quarter, compared to analyst estimates of $513.04 million. Twitter had a negative return on equity of 4.23% and a negative net margin of 17.67%. Twitter’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 earnings per share. Equities research analysts predict that Twitter will post $0.33 earnings per share for the current year.

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In other Twitter news, CEO Jack Dorsey acquired 574,002 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were bought at an average cost of $16.62 per share, with a total value of $9,539,913.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Vijaya Gadde sold 15,000 shares of the business’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $14.71, for a total value of $220,650.00. The disclosure for this sale can be found here. Insiders sold a total of 1,971,445 shares of company stock worth $33,742,431 over the last three months. 10.79% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Twitter by 4.1% in the first quarter. Vanguard Group Inc. now owns 45,997,766 shares of the social networking company’s stock worth $687,667,000 after buying an additional 1,819,941 shares during the period. Clearbridge Investments LLC increased its position in Twitter by 17.8% in the first quarter. Clearbridge Investments LLC now owns 36,805,927 shares of the social networking company’s stock worth $550,249,000 after buying an additional 5,561,940 shares during the period. OppenheimerFunds Inc. increased its position in Twitter by 42.3% in the first quarter. OppenheimerFunds Inc. now owns 10,088,428 shares of the social networking company’s stock worth $150,822,000 after buying an additional 2,999,690 shares during the period. First Trust Advisors LP increased its position in Twitter by 10.9% in the first quarter. First Trust Advisors LP now owns 6,543,375 shares of the social networking company’s stock worth $97,823,000 after buying an additional 641,282 shares during the period. Finally, Amerigo Asset Management increased its position in Twitter by 64.3% in the first quarter. Amerigo Asset Management now owns 6,463,910 shares of the social networking company’s stock worth $96,635,000 after buying an additional 2,528,910 shares during the period. 51.67% of the stock is currently owned by institutional investors and hedge funds.

About Twitter

Twitter, Inc offers products and services for users, advertisers, developers and data partners. The Company’s products and services include Twitter, Periscope, Promoted Tweets, Promoted Accounts and Promoted Trends. Its Twitter is a platform for public self-expression and conversation in real time. Periscope broadcasts can also be viewed through Twitter and on desktop or mobile Web browser.

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