Zacks Investment Research downgraded shares of Twitter, Inc. (NYSE:TWTR) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday, August 1st.
According to Zacks, “Twitter reported second quarter 2017 results wherein adjusted loss came in narrower than expected while revenues beat the Zacks Consensus Estimate. Moreover, costs are coming down considerably while adjusted EBITDA was way above the forecasted range in the second quarter. To boost user growth rate and engagement levels, Twitter remains focused on “live” and betting big on Periscope. It is now exploring beyond just news and the series of live streaming deals are a step in that direction. Though monthly average users were up 5% year over year, it was unchanged from the last quarter at 328 million users. Stiff competition for ad dollars continues to be a major concerns. Shares have underperformed the broader market in the past one year.”
A number of other equities research analysts also recently weighed in on TWTR. UBS AG reiterated a sell rating and issued a $14.00 price target (up from $12.00) on shares of Twitter in a research report on Friday, April 28th. Cowen and Company reiterated an underperform rating and issued a $14.00 price target (up from $12.00) on shares of Twitter in a research report on Friday, July 28th. Barclays PLC reiterated an underweight rating and issued a $15.00 price target on shares of Twitter in a research report on Wednesday, July 12th. Canaccord Genuity reiterated a hold rating and issued a $15.00 price target on shares of Twitter in a research report on Monday, July 24th. Finally, Argus reiterated a hold rating on shares of Twitter in a research report on Tuesday, May 2nd. Sixteen equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $15.59.
Twitter (NYSE:TWTR) last issued its quarterly earnings data on Thursday, July 27th. The social networking company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Twitter had a negative return on equity of 2.91% and a negative net margin of 18.25%. The company had revenue of $574 million during the quarter, compared to analysts’ expectations of $536.63 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis. On average, equities analysts expect that Twitter will post $0.34 earnings per share for the current fiscal year.
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In related news, General Counsel Vijaya Gadde sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $17.46, for a total value of $261,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Evan Clark Williams sold 853,700 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $19.38, for a total transaction of $16,544,706.00. Following the completion of the transaction, the director now directly owns 2,735,038 shares of the company’s stock, valued at $53,005,036.44. The disclosure for this sale can be found here. Insiders have sold a total of 2,352,873 shares of company stock valued at $42,761,829 over the last three months. Insiders own 10.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Independence Advisors LLC acquired a new position in Twitter during the second quarter valued at approximately $231,000. Mosaic Family Wealth LLC increased its position in Twitter by 14.2% in the first quarter. Mosaic Family Wealth LLC now owns 7,034 shares of the social networking company’s stock valued at $105,000 after buying an additional 875 shares during the period. Advisory Services Network LLC acquired a new position in Twitter during the first quarter valued at approximately $107,000. Toronto Dominion Bank increased its position in Twitter by 21.3% in the second quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock valued at $136,000 after buying an additional 1,333 shares during the period. Finally, Nicolet Bankshares Inc. increased its position in Twitter by 227.6% in the first quarter. Nicolet Bankshares Inc. now owns 7,821 shares of the social networking company’s stock valued at $117,000 after buying an additional 5,434 shares during the period. 47.36% of the stock is owned by institutional investors.
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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