Twitter (NYSE:TWTR) Downgraded by Evercore ISI to Underperform

Evercore ISI lowered shares of Twitter (NYSE:TWTR) from an in-line rating to an underperform rating in a research note issued to investors on Thursday, Briefing.com Automated Import reports.

Several other brokerages also recently commented on TWTR. Canaccord Genuity reduced their target price on shares of Twitter from $46.00 to $35.00 and set a hold rating for the company in a report on Thursday, October 24th. They noted that the move was a valuation call. Rosenblatt Securities reduced their target price on shares of Twitter from $40.00 to $29.00 and set a neutral rating for the company in a report on Friday, October 25th. UBS Group reduced their target price on shares of Twitter from $46.00 to $37.00 and set a buy rating for the company in a report on Friday, October 25th. Susquehanna Bancshares set a $34.00 target price on shares of Twitter and gave the stock a hold rating in a report on Friday, October 25th. Finally, ValuEngine downgraded shares of Twitter from a buy rating to a hold rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $36.61.

Shares of TWTR traded up $0.16 during midday trading on Thursday, reaching $29.21. The stock had a trading volume of 10,499,561 shares, compared to its average volume of 15,762,041. The firm has a 50 day simple moving average of $37.15 and a 200-day simple moving average of $38.58. Twitter has a one year low of $26.26 and a one year high of $45.85. The firm has a market cap of $23.14 billion, a PE ratio of 53.11, a P/E/G ratio of 0.52 and a beta of 0.58. The company has a current ratio of 8.69, a quick ratio of 8.69 and a debt-to-equity ratio of 0.28.

Twitter (NYSE:TWTR) last announced its earnings results on Thursday, October 24th. The social networking company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.10 by $0.07. The business had revenue of $824.00 million during the quarter, compared to the consensus estimate of $875.21 million. Twitter had a net margin of 47.67% and a return on equity of 6.07%. Twitter’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. As a group, research analysts forecast that Twitter will post 2 EPS for the current fiscal year.

In other news, CFO Ned D. Segal sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $40.65, for a total value of $243,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Robert Kaiden sold 9,685 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $29.72, for a total transaction of $287,838.20. The disclosure for this sale can be found here. Insiders sold a total of 97,450 shares of company stock valued at $3,584,723 over the last 90 days. Corporate insiders own 2.65% of the company’s stock.

Large investors have recently modified their holdings of the company. Boston Advisors LLC acquired a new position in shares of Twitter in the 2nd quarter valued at approximately $2,839,000. MML Investors Services LLC increased its position in Twitter by 5.0% during the 2nd quarter. MML Investors Services LLC now owns 29,443 shares of the social networking company’s stock worth $1,028,000 after purchasing an additional 1,393 shares in the last quarter. Pacer Advisors Inc. increased its position in Twitter by 16.3% during the 3rd quarter. Pacer Advisors Inc. now owns 82,979 shares of the social networking company’s stock worth $3,419,000 after purchasing an additional 11,655 shares in the last quarter. Cerity Partners LLC increased its position in Twitter by 13.2% during the 3rd quarter. Cerity Partners LLC now owns 8,918 shares of the social networking company’s stock worth $367,000 after purchasing an additional 1,041 shares in the last quarter. Finally, Sawtooth Solutions LLC increased its position in Twitter by 7.7% during the 2nd quarter. Sawtooth Solutions LLC now owns 11,056 shares of the social networking company’s stock worth $386,000 after purchasing an additional 786 shares in the last quarter. Institutional investors own 69.23% of the company’s stock.

About Twitter

Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter, a platform that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others.

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