Twitter, Inc. (NYSE:TWTR) had its price objective increased by Robert W. Baird to $20.00 in a report issued on Thursday, October 26th. The firm currently has a neutral rating on the social networking company’s stock.
A number of other analysts also recently issued reports on TWTR. MKM Partners reissued a neutral rating and issued a $18.00 price objective (up previously from $16.00) on shares of Twitter in a report on Thursday, August 10th. Cowen and Company reaffirmed an underperform rating and set a $14.00 price target (up previously from $12.00) on shares of Twitter in a report on Friday, July 28th. Mizuho assumed coverage on shares of Twitter in a report on Monday, August 7th. They set an underperform rating and a $14.50 price target for the company. Citigroup Inc. reaffirmed a sell rating and set a $12.00 price target on shares of Twitter in a report on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a hold rating and set a $16.00 price target on shares of Twitter in a report on Thursday, September 28th. Twelve research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Twitter has an average rating of Hold and an average target price of $17.67.
Shares of Twitter (NYSE:TWTR) traded up $0.42 on Thursday, reaching $20.32. 16,288,800 shares of the company were exchanged, compared to its average volume of 24,816,046. Twitter has a twelve month low of $14.12 and a twelve month high of $21.96. The company has a current ratio of 10.40, a quick ratio of 10.40 and a debt-to-equity ratio of 0.35.
Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, October 26th. The social networking company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.03. Twitter had a negative net margin of 15.08% and a negative return on equity of 1.21%. The business had revenue of $590.00 million for the quarter, compared to analyst estimates of $586.22 million. During the same quarter in the prior year, the business earned $0.09 EPS. Twitter’s quarterly revenue was down 4.2% on a year-over-year basis. equities analysts expect that Twitter will post 0.02 earnings per share for the current year.
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In other news, Director Evan Clark Williams sold 9,173 shares of Twitter stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $16.91, for a total transaction of $155,115.43. Following the completion of the sale, the director now directly owns 2,692,230 shares in the company, valued at $45,525,609.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Robert Kaiden sold 6,574 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $20.59, for a total value of $135,358.66. The disclosure for this sale can be found here. Insiders sold a total of 3,486,445 shares of company stock worth $68,390,081 in the last quarter. Company insiders own 10.79% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Exane Derivatives lifted its holdings in shares of Twitter by 18.7% during the third quarter. Exane Derivatives now owns 59,516 shares of the social networking company’s stock worth $1,004,000 after purchasing an additional 9,363 shares during the period. Vivaldi Asset Management LLC acquired a new position in Twitter in the second quarter valued at approximately $7,521,000. Allen Investment Management LLC acquired a new position in Twitter in the second quarter valued at approximately $7,169,000. State of Alaska Department of Revenue lifted its holdings in Twitter by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 29,068 shares of the social networking company’s stock valued at $519,000 after acquiring an additional 12,690 shares during the period. Finally, Contrarius Investment Management Ltd raised 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 worth $99,233,000 after buying an additional 822,455 shares during the period. Institutional investors and hedge funds own 49.68% 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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