BMO Capital Markets Boosts Twitter, Inc. (TWTR) Price Target to $22.00

Twitter, Inc. (NYSE:TWTR) had its price target lifted by BMO Capital Markets from $17.00 to $22.00 in a report released on Friday morning. BMO Capital Markets currently has a market perform rating on the social networking company’s stock.

Several other analysts have also issued reports on the stock. Barclays PLC upped their target price on shares of Twitter from $16.00 to $18.00 and gave the stock an underweight rating in a research note on Friday. Wells Fargo & Company upped their target price on shares of Twitter from $16.00 to $19.00 and gave the stock a market perform rating in a research note on Friday. SunTrust Banks, Inc. reiterated a hold rating and issued a $18.00 target price (up previously from $16.00) on shares of Twitter in a research note on Friday. They noted that the move was a valuation call. UBS AG upgraded shares of Twitter from a sell rating to a neutral rating and upped their target price for the stock from $14.00 to $21.00 in a research note on Friday. Finally, Goldman Sachs Group, Inc. (The) set a $26.00 target price on shares of Twitter and gave the stock a buy rating in a research note on Friday. Thirteen analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $16.71.

Twitter (NYSE TWTR) opened at 21.68 on Friday. The company’s market cap is $15.89 billion. The stock has a 50 day moving average of $17.85 and a 200-day moving average of $17.49. Twitter has a 12 month low of $14.12 and a 12 month high of $21.96.

Twitter (NYSE:TWTR) last posted its earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. Twitter had a negative net margin of 15.08% and a negative return on equity of 1.22%. The firm had revenue of $590.00 million during the quarter, compared to analyst estimates of $586.22 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts expect that Twitter will post $0.34 EPS for the current year.

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In other news, insider Robert Kaiden sold 4,725 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $16.06, for a total value of $75,883.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Evan Clark Williams sold 273,300 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $16.16, for a total transaction of $4,416,528.00. Following the completion of the transaction, the director now owns 2,710,576 shares in the company, valued at approximately $43,802,908.16. The disclosure for this sale can be found here. Insiders sold 1,759,445 shares of company stock worth $30,631,777 in the last 90 days. Company insiders own 9.18% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Twitter by 6.2% in 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 last quarter. Northern Trust Corp boosted its holdings in Twitter by 78.3% in the second quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock valued at $149,215,000 after acquiring an additional 3,667,233 shares in the last quarter. First Trust Advisors LP boosted its holdings in Twitter by 5.3% in the third quarter. First Trust Advisors LP now owns 7,633,764 shares of the social networking company’s stock valued at $128,782,000 after acquiring an additional 385,181 shares in the last quarter. Contrarius Investment Management Ltd boosted its holdings in Twitter by 17.4% in the second quarter. Contrarius Investment Management Ltd now owns 5,553,048 shares of the social networking company’s stock valued at $99,233,000 after acquiring an additional 822,455 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Twitter by 11.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,459,480 shares of the social networking company’s stock valued at $79,691,000 after acquiring an additional 463,363 shares in the last quarter. Hedge funds and other institutional investors own 49.50% of the company’s stock.

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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