Bank of America Corporation Trims Twitter, Inc. (TWTR) Target Price to $14.50
Twitter, Inc. (NYSE:TWTR) had its price objective trimmed by Bank of America Corporation from $16.00 to $14.50 in a report released on Friday morning. The brokerage currently has an underperform rating on the social networking company’s stock.
Several other brokerages also recently weighed in on TWTR. Evercore ISI restated a hold rating and set a $17.00 price target on shares of Twitter in a report on Saturday, October 29th. Vetr downgraded Twitter from a strong-buy rating to a buy rating and set a $18.24 price objective for the company. in a report on Wednesday, January 4th. RBC Capital Markets reiterated an underperform rating and issued a $14.00 price objective on shares of Twitter in a report on Friday, October 28th. SunTrust Banks, Inc. reiterated a hold rating and issued a $18.00 price objective on shares of Twitter in a report on Wednesday, October 26th. Finally, Wedbush reiterated a neutral rating and issued a $14.00 price objective on shares of Twitter in a report on Thursday, December 15th. Seventeen investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $16.02.
Twitter (NYSE:TWTR) traded down 2.33% during midday trading on Friday, reaching $16.35. 21,636,195 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $17.00 and its 200-day moving average price is $18.36. The stock’s market cap is $11.67 billion. Twitter has a one year low of $13.73 and a one year high of $25.25.
Twitter (NYSE:TWTR) last issued its quarterly earnings results on Thursday, February 9th. The social networking company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.04. Twitter had a negative return on equity of 4.59% and a negative net margin of 18.06%. The firm earned $717 million during the quarter, compared to the consensus estimate of $740.17 million. During the same period last year, the company earned $0.16 earnings per share. The company’s revenue was up .9% on a year-over-year basis. Equities analysts predict that Twitter will post $0.32 earnings per share for the current year.
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In other news, CEO Jack Dorsey purchased 425,998 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were acquired at an average price of $16.43 per share, for a total transaction of $6,999,147.14. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Kaiden sold 3,988 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $18.19, for a total value of $72,541.72. The disclosure for this sale can be found here. Insiders own 10.79% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Monetta Financial Services Inc. boosted its stake in Twitter by 18.2% in the second quarter. Monetta Financial Services Inc. now owns 162,000 shares of the social networking company’s stock worth $2,739,000 after buying an additional 25,000 shares in the last quarter. Bank Hapoalim BM boosted its stake in Twitter by 49.1% in the second quarter. Bank Hapoalim BM now owns 16,910 shares of the social networking company’s stock worth $286,000 after buying an additional 5,565 shares in the last quarter. GMT Capital Corp boosted its stake in Twitter by 79.9% in the second quarter. GMT Capital Corp now owns 702,600 shares of the social networking company’s stock worth $11,881,000 after buying an additional 312,000 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Twitter by 6.9% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 31,185 shares of the social networking company’s stock worth $527,000 after buying an additional 2,000 shares in the last quarter. Finally, Convector Capital Management LP purchased a new stake in Twitter during the second quarter worth $710,000. Institutional investors and hedge funds own 44.45% of the company’s stock.
Twitter Company Profile
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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