Zacks Investment Research upgraded shares of Twitter (NYSE:TWTR) from a hold rating to a buy rating in a research note published on Friday, January 12th. Zacks Investment Research currently has $28.00 price objective 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 several other research reports. Goldman Sachs Group set a $26.00 target price on Twitter and gave the company a buy rating in a report on Friday, October 27th. Vetr downgraded Twitter from a strong-buy rating to a buy rating and set a $19.82 price target for the company. in a research report on Wednesday, October 4th. Susquehanna Bancshares lifted their price target on Twitter from $17.00 to $20.00 and gave the company a neutral rating in a research report on Thursday, October 26th. Morgan Stanley restated an underweight rating and issued a $10.00 target price on shares of Twitter in a research report on Monday, October 2nd. Finally, Wells Fargo & Co boosted their target price on Twitter from $16.00 to $19.00 and gave the stock a market perform rating in a research report on Friday, October 27th. Ten research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and nine have issued a buy rating to the stock. Twitter currently has an average rating of Hold and an average price target of $19.91.
Twitter (NYSE:TWTR) traded down $0.13 during midday trading on Friday, hitting $25.79. The stock had a trading volume of 14,110,000 shares, compared to its average volume of 23,550,000. Twitter has a 12 month low of $14.12 and a 12 month high of $27.33. The company has a market cap of $19,160.00, a PE ratio of -50.57, a price-to-earnings-growth ratio of 11.30 and a beta of 1.14. The company has a quick ratio of 10.40, a current ratio of 10.40 and a debt-to-equity ratio of 0.35.
In other Twitter news, General Counsel Vijaya Gadde sold 135,000 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $19.92, for a total value of $2,689,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Kaiden sold 3,930 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $20.62, for a total value of $81,036.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,341,259 shares of company stock worth $71,722,897. Corporate insiders own 9.18% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Balentine LLC lifted its stake in shares of Twitter by 86.6% in the 3rd quarter. Balentine LLC now owns 6,822 shares of the social networking company’s stock valued at $115,000 after purchasing an additional 3,167 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Twitter by 21.3% in 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 period. Malaga Cove Capital LLC acquired a new position in shares of Twitter in the 3rd quarter valued at about $154,000. Staley Capital Advisers Inc. acquired a new position in shares of Twitter in the 3rd quarter valued at about $173,000. Finally, Federated Investors Inc. PA acquired a new position in shares of Twitter in the 2nd quarter valued at about $174,000. Institutional investors and hedge funds own 50.12% of the company’s stock.
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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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