Loop Capital Begins Coverage on Twitter Inc. (TWTR)
Analysts at Loop Capital started coverage on shares of Twitter Inc. (NYSE:TWTR) in a research report issued to clients and investors on Thursday. The brokerage set a “hold” rating and a $18.00 price target on the social networking company’s stock. Loop Capital’s price target indicates a potential downside of 3.38% from the company’s previous close. The analysts noted that the move was a valuation call.
Other equities analysts also recently issued research reports about the stock. Deutsche Bank AG reissued a “buy” rating on shares of Twitter in a research note on Sunday, July 10th. Cantor Fitzgerald reissued a “buy” rating on shares of Twitter in a research note on Saturday, June 4th. MKM Partners set a $18.50 target price on shares of Twitter and gave the stock a “hold” rating in a research note on Sunday, September 4th. Nomura reduced their price target on shares of Twitter from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Finally, Wedbush restated a “neutral” rating and issued a $14.00 price target (down from $20.00) on shares of Twitter in a report on Monday, July 25th. Nine investment analysts have rated the stock with a sell rating, twenty-nine have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.58.
Shares of Twitter (NYSE:TWTR) traded up 18.73% during midday trading on Thursday, hitting $22.12. 95,610,348 shares of the stock were exchanged. The firm’s 50 day moving average is $18.86 and its 200-day moving average is $16.91. The stock’s market capitalization is $15.49 billion. Twitter has a 1-year low of $13.73 and a 1-year high of $31.87.
Twitter (NYSE:TWTR) last announced its earnings results on Tuesday, July 26th. The social networking company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Twitter had a negative net margin of 16.51% and a negative return on equity of 6.01%. The business earned $602 million during the quarter, compared to the consensus estimate of $606.37 million. During the same quarter last year, the firm earned $0.07 earnings per share. Twitter’s quarterly revenue was up 19.9% on a year-over-year basis. On average, analysts predict that Twitter will post $0.51 EPS for the current year.
In other news, insider Robert Kaiden sold 3,604 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $20.06, for a total transaction of $72,296.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Adam Messinger sold 52,914 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $16.76, for a total transaction of $886,838.64. The disclosure for this sale can be found here. Corporate insiders own 10.79% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Swiss National Bank increased its stake in shares of Twitter by 3.7% in the second quarter. Swiss National Bank now owns 1,564,600 shares of the social networking company’s stock worth $26,457,000 after buying an additional 56,500 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Twitter during the first quarter worth about $265,000. State Board of Administration of Florida Retirement System increased its stake in shares of Twitter by 21.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 901,244 shares of the social networking company’s stock worth $15,240,000 after buying an additional 158,309 shares during the last quarter. Norges Bank bought a new stake in shares of Twitter during the fourth quarter worth about $78,597,000. Finally, Legal & General Group Plc increased its stake in shares of Twitter by 4.1% in the first quarter. Legal & General Group Plc now owns 1,756,013 shares of the social networking company’s stock worth $29,062,000 after buying an additional 69,951 shares during the last quarter. 41.87% of the stock is currently owned by hedge funds and other institutional investors.
Twitter, Inc (Twitter) offers products and services for users, advertisers, developers and platform and data partners. The Company’s service is live-live commentary, live connections, live conversations. Its products and services for users include Twitter, and Periscope and Vine. Its Twitter is a platform for public self-expression and conversation in real time.
Receive News & Ratings for Twitter Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Twitter Inc. and related companies with MarketBeat.com's FREE daily email newsletter.