Twitter, Inc. (TWTR) Expected to Post Quarterly Sales of $589.63 Million

Wall Street analysts expect that Twitter, Inc. (NYSE:TWTR) will report sales of $589.63 million for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Twitter’s earnings, with the highest sales estimate coming in at $610.94 million and the lowest estimate coming in at $559.00 million. Twitter reported sales of $615.93 million in the same quarter last year, which suggests a negative year over year growth rate of 4.3%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, October 26th.

According to Zacks, analysts expect that Twitter will report full year sales of $589.63 million for the current year, with estimates ranging from $2.20 billion to $2.45 billion. For the next financial year, analysts expect that the business will post sales of $2.50 billion per share, with estimates ranging from $2.06 billion to $2.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Twitter.

Twitter (NYSE:TWTR) last released its earnings results on Thursday, July 27th. The social networking company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Twitter had a negative net margin of 18.25% and a negative return on equity of 2.91%. The business had revenue of $574.00 million during the quarter, compared to analyst estimates of $536.63 million. During the same period in the prior year, the business earned $0.13 earnings per share. The business’s quarterly revenue was down 4.7% on a year-over-year basis.

Several research analysts have recently issued reports on the stock. MKM Partners reaffirmed a “neutral” rating and issued a $18.00 target price (up previously from $16.00) on shares of Twitter in a research note on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $16.00 target price on shares of Twitter in a research note on Thursday, September 28th. Cowen and Company reaffirmed an “underperform” rating and issued a $14.00 target price (up previously from $12.00) on shares of Twitter in a research note on Friday, July 28th. Mizuho assumed coverage on shares of Twitter in a research note on Monday, August 7th. They issued an “underperform” rating and a $14.50 target price on the stock. Finally, Citigroup Inc. reaffirmed a “sell” rating and issued a $12.00 target price on shares of Twitter in a research note on Thursday, August 10th. Sixteen research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Twitter currently has a consensus rating of “Hold” and a consensus price target of $15.44.

Twitter (TWTR) traded up 1.607% during mid-day trading on Thursday, reaching $18.015. 2,371,194 shares of the company traded hands. The firm’s market cap is $13.20 billion. The stock’s 50-day moving average price is $17.34 and its 200-day moving average price is $17.19. Twitter has a one year low of $14.12 and a one year high of $20.88.

In related news, Director Evan Clark Williams sold 853,700 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $19.38, for a total transaction of $16,544,706.00. Following the completion of the sale, the director now owns 2,735,038 shares of the company’s stock, valued at $53,005,036.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Vijaya Gadde sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $16.07, for a total transaction of $241,050.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,189,030 shares of company stock valued at $39,560,018. 10.79% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Twitter by 6.2% during the second quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock worth $872,704,000 after purchasing an additional 2,838,459 shares during the period. Clearbridge Investments LLC lifted its position in Twitter by 17.8% during the first quarter. Clearbridge Investments LLC now owns 36,805,927 shares of the social networking company’s stock worth $550,249,000 after purchasing an additional 5,561,940 shares during the period. Northern Trust Corp lifted its position in Twitter by 78.3% during the second quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock worth $149,215,000 after purchasing an additional 3,667,233 shares during the period. First Trust Advisors LP lifted its position in Twitter by 10.8% during the second quarter. First Trust Advisors LP now owns 7,248,583 shares of the social networking company’s stock worth $129,532,000 after purchasing an additional 705,208 shares during the period. Finally, Contrarius Investment Management Ltd lifted its position in Twitter by 17.4% during the second quarter. Contrarius Investment Management Ltd now owns 5,553,048 shares of the social networking company’s stock worth $99,233,000 after purchasing an additional 822,455 shares during the period. 49.14% of the stock is owned by institutional investors and hedge funds.

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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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