Vetr downgraded shares of Twitter, Inc. (NYSE:TWTR) from a strong-buy rating to a hold rating in a report released on Thursday morning. They currently have $19.88 price objective on the social networking company’s stock.
A number of other brokerages also recently issued reports on TWTR. BidaskClub raised shares of Twitter from a hold rating to a buy rating in a report on Sunday, July 16th. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $20.00 price target on shares of Twitter in a report on Sunday, July 30th. Zacks Investment Research raised shares of Twitter from a hold rating to a buy rating and set a $18.00 price target on the stock in a report on Wednesday, August 2nd. Pivotal Research reissued a hold rating and issued a $17.00 price target (up from $15.00) on shares of Twitter in a report on Monday, July 17th. Finally, BMO Capital Markets reissued a hold rating and issued a $17.00 price target on shares of Twitter in a report on Sunday, July 16th. Thirteen equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and four have issued a buy rating to the stock. Twitter presently has an average rating of Hold and a consensus price target of $16.71.
Shares of Twitter (NYSE:TWTR) opened at 21.68 on Thursday. Twitter has a 52 week low of $14.12 and a 52 week high of $21.96. The firm has a 50-day moving average of $17.85 and a 200 day moving average of $17.49. The firm’s market cap is $15.89 billion.
Twitter (NYSE:TWTR) last released its quarterly earnings data on Thursday, October 26th. The social networking company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The business had revenue of $590.00 million for the quarter, compared to the consensus estimate of $586.22 million. Twitter had a negative net margin of 15.08% and a negative return on equity of 1.22%. The company’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.09 earnings per share. Equities research analysts predict that Twitter will post $0.34 EPS for the current fiscal year.
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In other Twitter news, insider Robert Kaiden sold 7,775 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $16.28, for a total transaction of $126,577.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Vijaya Gadde sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $16.07, for a total value of $241,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,759,445 shares of company stock valued at $30,631,777. Corporate insiders own 9.18% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Twitter by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock valued at $872,704,000 after purchasing an additional 2,838,459 shares during the period. Northern Trust Corp grew its stake in shares of Twitter by 78.3% during the 2nd quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock valued at $149,215,000 after purchasing an additional 3,667,233 shares during the period. First Trust Advisors LP grew its stake in shares of Twitter by 5.3% during the 3rd quarter. First Trust Advisors LP now owns 7,633,764 shares of the social networking company’s stock valued at $128,782,000 after purchasing an additional 385,181 shares during the period. Contrarius Investment Management Ltd grew its stake in shares of Twitter by 17.4% during the 2nd quarter. Contrarius Investment Management Ltd now owns 5,553,048 shares of the social networking company’s stock valued at $99,233,000 after purchasing an additional 822,455 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Twitter by 11.6% during the 2nd 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 purchasing an additional 463,363 shares during the period. Institutional investors and hedge funds own 49.50% of the company’s stock.
Twitter Company Profile
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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