Twitter Inc. (TWTR) Downgraded by Royal Bank Of Canada to Underperform
Twitter Inc. (NYSE:TWTR) was downgraded by analysts at Royal Bank Of Canada from a “sector perform” rating to an “underperform” rating in a note issued to investors on Friday. They presently have a $14.00 price target on the social networking company’s stock, down from their prior price target of $17.00. Royal Bank Of Canada’s price objective suggests a potential downside of 24.85% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. SunTrust Banks Inc. reissued a “buy” rating on shares of Twitter in a research report on Tuesday, June 7th. Cantor Fitzgerald restated a “buy” rating on shares of Twitter in a research note on Saturday, June 4th. MKM Partners restated a “buy” rating on shares of Twitter in a research note on Wednesday, June 22nd. Jefferies Group restated a “buy” rating on shares of Twitter in a research note on Monday, July 11th. Finally, Canaccord Genuity restated a “buy” rating and set a $20.00 price objective on shares of Twitter in a research note on Monday, July 11th. Nine analysts have rated the stock with a sell rating, twenty-nine have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Twitter has an average rating of “Hold” and an average target price of $19.71.
Shares of Twitter (NYSE:TWTR) opened at 18.63 on Friday. The firm’s 50 day moving average price is $18.86 and its 200-day moving average price is $16.91. Twitter has a 1-year low of $13.73 and a 1-year high of $31.87. The company’s market capitalization is $13.04 billion.
Twitter (NYSE:TWTR) last posted its quarterly earnings results on Tuesday, July 26th. The social networking company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Twitter had a negative return on equity of 6.01% and a negative net margin of 16.51%. The business had revenue of $602 million for the quarter, compared to the consensus estimate of $606.37 million. During the same quarter in the prior year, the company earned $0.07 EPS. The business’s revenue was up 19.9% compared to the same quarter last year. Analysts expect that Twitter will post $0.51 EPS for the current year.
In other Twitter news, insider Robert Kaiden sold 3,604 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $20.06, for a total transaction of $72,296.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Messinger sold 52,914 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $16.76, for a total value of $886,838.64. The disclosure for this sale can be found here. 10.79% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Integrated Investment Consultants LLC increased its stake in Twitter by 85.9% in the second quarter. Integrated Investment Consultants LLC now owns 6,707 shares of the social networking company’s stock valued at $113,000 after buying an additional 3,099 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in Twitter by 204.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 7,618 shares of the social networking company’s stock valued at $129,000 after buying an additional 5,115 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Twitter during the second quarter valued at approximately $152,000. Peapack Gladstone Financial Corp bought a new stake in Twitter during the first quarter valued at approximately $169,000. Finally, Hartford Investment Management Co. increased its stake in Twitter by 1.9% in the second quarter. Hartford Investment Management Co. now owns 10,306 shares of the social networking company’s stock valued at $174,000 after buying an additional 192 shares in the last quarter. 41.87% of the stock is 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.
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