Twitter, Inc. (TWTR) Raised to Strong-Buy at Zacks Investment Research

Twitter, Inc. (NYSE:TWTR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday. The firm currently has a $25.00 target price on the social networking company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 17.65% from the company’s current price.

According to Zacks, “Twitter reported third quarter 2017 results wherein earnings beat the Zacks Consensus Estimate while revenues were in line with expectations. The good results overshadowed Twitter’s revelation that it has been miscalculating monthly average users (MAUs) since 2014, which resulted in the company overstating 1-2 MAUs per quarter. After adjustment, MAUs for the third quarter were up 4% year over year to 330 million. The daily average users (DAUs) were up 14% year over year. Moreover, costs are coming down greatly while adjusted EBITDA was way above the forecasted range in the third quarter. Twitter’s much awaited turnaround likely to be driven by its cost containment efforts along with focus on live video streaming for more ad dollars. However, stiff competition for ad dollars continues to be a major concern.”

Several other research firms have also issued reports on TWTR. Vetr lowered shares of Twitter from a “strong-buy” rating to a “buy” rating and set a $19.82 target price for the company. in a research note on Wednesday, October 4th. Morgan Stanley reiterated an “underweight” rating and issued a $10.00 target price on shares of Twitter in a research note on Monday, October 2nd. Robert W. Baird reiterated a “hold” rating and issued a $17.00 target price on shares of Twitter in a research note on Friday, September 1st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $20.00 target price on shares of Twitter in a research note on Sunday, July 30th. Finally, Susquehanna Bancshares Inc upped their target price on shares of Twitter from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, October 26th. Thirteen research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.12.

Twitter (NYSE:TWTR) opened at 21.25 on Tuesday. 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 price of $17.96 and a 200 day moving average price of $17.59. The stock’s market capitalization is $15.58 billion.

Twitter (NYSE:TWTR) last released its quarterly earnings data on Thursday, October 26th. The social networking company reported $0.10 earnings per share 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 for the quarter, compared to the consensus estimate of $586.22 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts predict that Twitter will post $0.34 EPS for the current year.

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In other Twitter news, General Counsel Vijaya Gadde sold 15,000 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Kaiden sold 7,775 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $16.28, for a total value of $126,577.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,754,720 shares of company stock valued at $30,555,893. 9.18% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in shares of Twitter by 6.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 30,576 shares of the social networking company’s stock valued at $457,000 after acquiring an additional 1,745 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Twitter by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,374,710 shares of the social networking company’s stock valued at $20,551,000 after acquiring an additional 42,426 shares during the period. AQR Capital Management LLC grew its stake in shares of Twitter by 1.1% during the 1st quarter. AQR Capital Management LLC now owns 366,223 shares of the social networking company’s stock valued at $5,475,000 after acquiring an additional 4,030 shares during the period. Achmea Investment Management B.V. bought a new position in shares of Twitter during the 1st quarter valued at approximately $221,000. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of Twitter by 7.1% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 66,600 shares of the social networking company’s stock valued at $996,000 after acquiring an additional 4,400 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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