Twitter’s (TWTR) Neutral Rating Reiterated at SunTrust Banks Inc.
SunTrust Banks Inc. reissued their neutral rating on shares of Twitter Inc. (NYSE:TWTR) in a report released on Tuesday. SunTrust Banks Inc. currently has a $18.00 price objective on the social networking company’s stock.
Several other brokerages also recently issued reports on TWTR. Citigroup Inc. restated a neutral rating and issued a $16.00 price target on shares of Twitter in a report on Monday. JPMorgan Chase & Co. restated a hold rating and issued a $17.00 price target on shares of Twitter in a report on Tuesday. Axiom Securities restated a hold rating on shares of Twitter in a report on Tuesday. Pivotal Research increased their price target on Twitter from $22.00 to $27.00 and gave the stock a buy rating in a report on Tuesday. Finally, Canaccord Genuity restated a buy rating on shares of Twitter in a report on Sunday, September 25th. Fourteen research analysts have rated the stock with a sell rating, twenty-five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $19.61.
Twitter (NYSE:TWTR) opened at 23.01 on Tuesday. Twitter has a 52 week low of $13.73 and a 52 week high of $31.87. The company has a 50 day moving average price of $19.53 and a 200-day moving average price of $17.10. The company’s market capitalization is $16.11 billion.
Twitter (NYSE:TWTR) last announced its quarterly earnings results on Tuesday, July 26th. The social networking company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company earned $602 million during the quarter, compared to the consensus estimate of $606.37 million. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, equities analysts anticipate that Twitter will post $0.51 earnings per share for the current fiscal year.
In other Twitter news, insider Adam Messinger sold 52,914 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $16.76, for a total transaction of $886,838.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Kaiden sold 3,604 shares of the business’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 value of $72,296.24. The disclosure for this sale can be found here. 10.79% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of TWTR. Vanguard Group Inc. raised its stake in shares of Twitter by 36.5% in the second quarter. Vanguard Group Inc. now owns 33,938,829 shares of the social networking company’s stock worth $573,906,000 after buying an additional 9,067,613 shares in the last quarter. Norges Bank bought a new stake in shares of Twitter during the fourth quarter worth approximately $78,597,000. Commerzbank Aktiengesellschaft FI raised its stake in shares of Twitter by 307.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,886,736 shares of the social networking company’s stock worth $48,815,000 after buying an additional 2,177,825 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Twitter during the second quarter worth approximately $22,334,000. Finally, Contrarius Investment Management Ltd raised its stake in shares of Twitter by 25.6% in the second quarter. Contrarius Investment Management Ltd now owns 4,147,508 shares of the social networking company’s stock worth $70,134,000 after buying an additional 844,273 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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