Twitter Inc. (TWTR) Stock Rating Reaffirmed by Loop Capital
Twitter Inc. (NYSE:TWTR)‘s stock had its “sell” rating reissued by equities research analysts at Loop Capital in a report issued on Saturday. They currently have a $18.00 target price on the social networking company’s stock. Loop Capital’s price objective points to a potential downside of 9.32% from the stock’s previous close.
TWTR has been the topic of several other reports. Canaccord Genuity restated a “buy” rating and issued a $20.00 price objective on shares of Twitter in a research report on Monday, July 11th. JPMorgan Chase & Co. restated a “hold” rating and issued a $17.00 price objective on shares of Twitter in a research report on Tuesday, September 27th. Deutsche Bank AG restated a “buy” rating and issued a $23.00 price objective on shares of Twitter in a research report on Tuesday, July 19th. Vetr upgraded Twitter from a “buy” rating to a “strong-buy” rating and set a $20.69 price objective on the stock in a research report on Monday, August 29th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $16.00 price objective on shares of Twitter in a research report on Monday, September 26th. Thirteen analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.66.
Twitter (NYSE:TWTR) opened at 19.85 on Friday. The firm’s market capitalization is $13.90 billion. Twitter has a 52-week low of $13.73 and a 52-week high of $31.87. The firm has a 50-day moving average price of $19.97 and a 200 day moving average price of $17.35.
Twitter (NYSE:TWTR) last issued its quarterly earnings data on Tuesday, July 26th. The social networking company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $602 million for the quarter, compared to the consensus estimate of $606.37 million. During the same period in the prior year, the business earned $0.07 earnings per share. The business’s revenue was up 19.9% on a year-over-year basis. Analysts forecast that Twitter will post $0.51 EPS for the current year.
In related news, CAO Robert Kaiden sold 12,990 shares of the 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 $217,712.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Messinger sold 4,901 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $23.64, for a total value of $115,859.64. The disclosure for this sale can be found here. Insiders own 10.79% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased 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 valued at $573,906,000 after buying an additional 9,067,613 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased 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 valued at $48,815,000 after buying an additional 2,177,825 shares during the last quarter. Quantitative Investment Management LLC acquired a new stake in shares of Twitter during the second quarter valued at $22,334,000. Contrarius Investment Management Ltd increased 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 valued at $70,134,000 after buying an additional 844,273 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Twitter during the first quarter valued at $13,056,000. Hedge funds and other institutional investors own 41.87% of the company’s stock.
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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