Twitter (TWTR) Upgraded to “Market Perform” at Raymond James

Raymond James upgraded shares of Twitter (NYSE:TWTR) from an underperform rating to a market perform rating in a research report sent to investors on Wednesday, MarketBeat reports.

A number of other research analysts have also issued reports on the stock. Wedbush restated a hold rating and issued a $26.00 target price on shares of Twitter in a report on Monday. Maxim Group upgraded shares of Twitter from a neutral rating to a buy rating in a report on Friday, April 20th. MKM Partners raised shares of Twitter from a neutral rating to a buy rating and set a $40.00 price objective for the company in a research note on Friday, April 20th. ValuEngine raised shares of Twitter from a hold rating to a buy rating in a research note on Wednesday, April 18th. Finally, Morgan Stanley raised shares of Twitter from an underweight rating to an equal weight rating and set a $29.00 price objective for the company in a research note on Tuesday, April 17th. Six investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $25.11.

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NYSE:TWTR traded up $1.35 on Wednesday, reaching $31.10. The stock had a trading volume of 25,755,424 shares, compared to its average volume of 31,502,498. The firm has a market cap of $22,880.06, a price-to-earnings ratio of 517.67, a price-to-earnings-growth ratio of 8.23 and a beta of 0.86. The company has a current ratio of 9.12, a quick ratio of 9.12 and a debt-to-equity ratio of 0.34. Twitter has a 12-month low of $15.67 and a 12-month high of $36.80.

Twitter (NYSE:TWTR) last released its earnings results on Wednesday, April 25th. The social networking company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.15. The company had revenue of $665.00 million for the quarter, compared to analyst estimates of $607.56 million. Twitter had a negative net margin of 4.42% and a positive return on equity of 0.77%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. equities research analysts forecast that Twitter will post 0.17 earnings per share for the current fiscal year.

In other Twitter news, Director Evan Clark Williams sold 682,242 shares of the company’s stock in a transaction that occurred on Tuesday, April 24th. The stock was sold at an average price of $30.88, for a total value of $21,067,632.96. Following the completion of the transaction, the director now owns 2,030,075 shares in the company, valued at approximately $62,688,716. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Matthew Derella sold 7,008 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $27.80, for a total value of $194,822.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,440,650 shares of company stock valued at $108,405,624. 10.79% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Twitter by 6.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,709,001 shares of the social networking company’s stock worth $28,831,000 after buying an additional 102,413 shares during the period. Janus Henderson Group PLC increased its position in Twitter by 67.2% in the third quarter. Janus Henderson Group PLC now owns 146,844 shares of the social networking company’s stock worth $2,478,000 after buying an additional 59,014 shares during the period. DnB Asset Management AS increased its position in Twitter by 20.5% in the fourth 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 period. Deane Retirement Strategies Inc. acquired a new stake in Twitter in the fourth quarter worth $2,257,000. Finally, Rockland Trust Co. acquired a new stake in Twitter in the fourth quarter worth $219,000. Institutional investors own 54.84% of the company’s stock.

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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 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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