Twitter (NYSE:TWTR) Coverage Initiated at Summit Redstone

Analysts at Summit Redstone assumed coverage on shares of Twitter (NYSE:TWTR) in a research note issued on Monday, December 18th, Marketbeat reports. The brokerage set a “buy” rating and a $26.00 price target on the social networking company’s stock. Summit Redstone’s price target would suggest a potential upside of 2.32% from the company’s current price.

Other analysts have also recently issued reports about the stock. BidaskClub cut shares of Twitter from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Jefferies Group reissued a “hold” rating and set a $16.00 price target on shares of Twitter in a research report on Thursday, September 28th. SunTrust Banks reissued a “hold” rating and set a $18.00 price target (up from $16.00) on shares of Twitter in a research report on Friday, October 27th. They noted that the move was a valuation call. Canaccord Genuity reaffirmed a “hold” rating and set a $15.00 target price on shares of Twitter in a report on Friday, October 20th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 target price on shares of Twitter in a report on Monday, October 2nd. Twelve equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.90.

Shares of Twitter (TWTR) traded up $1.06 on Monday, hitting $25.41. 36,973,000 shares of the stock traded hands, compared to its average volume of 17,420,000. The stock has a market capitalization of $18,870.00, a P/E ratio of -49.82, a P/E/G ratio of 10.62 and a beta of 1.11. Twitter has a 1-year low of $14.12 and a 1-year high of $25.85. 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 posted its earnings results on Thursday, October 26th. The social networking company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $586.22 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. sell-side analysts forecast that Twitter will post 0.02 EPS for the current year.

In other news, Director Evan Clark Williams sold 2,000,300 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $21.06, for a total value of $42,126,318.00. Following the completion of the transaction, the director now owns 2,530,241 shares in the company, valued at $53,286,875.46. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert Kaiden sold 1,186 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $24.44, for a total value of $28,985.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,335,712 shares of company stock valued at $113,614,151. Corporate insiders own 10.79% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Bristol Advisors LLC acquired a new stake in Twitter in the 4th quarter worth about $1,801,000. Rockland Trust Co. acquired a new stake in Twitter in the 4th quarter worth about $219,000. Deane Retirement Strategies Inc. acquired a new stake in Twitter in the 4th quarter worth about $2,257,000. DnB Asset Management AS boosted its stake in Twitter by 20.5% in the 4th quarter. DnB Asset Management AS now owns 66,500 shares of the social networking company’s stock worth $1,597,000 after buying an additional 11,300 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Twitter in the 3rd quarter worth about $200,000. Hedge funds and other institutional investors own 50.69% of the company’s stock.

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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.

Analyst Recommendations for Twitter (NYSE:TWTR)

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