Twitter (TWTR) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Twitter (NYSE:TWTR) from a hold rating to a buy rating in a report released on Friday morning. The brokerage currently has $28.00 price target on the social networking company’s stock.

According to Zacks, “Twitter shares have outperformed the industry in the past one year. The platform is attracting users due to its openness, real-time content, conversational format and distribution ability. The company is focusing on boosting user growth rate and engagement levels by taking various measures like making tweeting easier for people and more expressive. Twitter has been benefiting from rising number of increasing mobile users and strategic acquisitions. Moreover, aggressive cost cutting will help Twitter achieve long term EBITDA target. We believe Twitter’s much awaited turnaround likely to be driven by its focus on live video streaming which, in turn, will bring more ad dollars. Estimates have been going up ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters.”

TWTR has been the subject of a number of other research reports. Cantor Fitzgerald reissued a hold rating and set a $16.00 target price on shares of Twitter in a research report on Monday, October 23rd. Pivotal Research reissued a hold rating and set a $21.00 target price on shares of Twitter in a research report on Wednesday. BTIG Research increased their target price on shares of Twitter from $25.00 to $30.00 and gave the stock a buy rating in a research report on Friday. BidaskClub raised shares of Twitter from a hold rating to a buy rating in a research report on Friday, October 6th. Finally, Canaccord Genuity reissued a hold rating and set a $15.00 target price on shares of Twitter in a research report on Friday, October 20th. Twelve research analysts have rated the stock with a sell rating, twenty have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $18.90.

Twitter (NYSE TWTR) traded up $1.06 during midday trading on Friday, hitting $25.41. 36,973,000 shares of the stock were exchanged, compared to its average volume of 17,420,000. Twitter has a one year low of $14.12 and a one year high of $25.85. The company has a debt-to-equity ratio of 0.35, a quick ratio of 10.40 and a current ratio of 10.40. The firm has a market cap 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 (NYSE:TWTR) last posted its quarterly earnings data 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 company had revenue of $590.00 million during the quarter, compared to the consensus estimate of $586.22 million. During the same quarter in the prior year, the company posted $0.09 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. analysts expect that Twitter will post 0.02 EPS for the current fiscal year.

In other news, insider Robert Kaiden sold 5,926 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $19.51, for a total transaction of $115,616.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Evan Clark Williams sold 18,347 shares of the stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $24.27, for a total value of $445,281.69. Following the transaction, the director now owns 2,328,359 shares of the company’s stock, valued at $56,509,272.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,335,712 shares of company stock valued at $113,614,151. 10.79% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Balentine LLC boosted its stake in shares of Twitter by 86.6% during the 3rd quarter. Balentine LLC now owns 6,822 shares of the social networking company’s stock valued at $115,000 after buying an additional 3,167 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Twitter by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock valued at $136,000 after buying an additional 1,333 shares during the last quarter. Malaga Cove Capital LLC purchased a new position in shares of Twitter during the 3rd quarter valued at approximately $154,000. Staley Capital Advisers Inc. purchased a new position in shares of Twitter during the 3rd quarter valued at approximately $173,000. Finally, Federated Investors Inc. PA purchased a new position in shares of Twitter during the 2nd quarter valued at approximately $174,000. Institutional investors own 50.69% of the company’s stock.

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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.

Analyst Recommendations for Twitter (NYSE:TWTR)

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