Twitter, Inc. (NYSE:TWTR) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Twitter, Inc. (NYSE:TWTR) from a hold rating to a buy rating in a research note published on Wednesday morning. They currently have $18.00 target price on the social networking company’s stock.
According to Zacks, “Twitter reported second quarter 2017 results wherein adjusted loss came in narrower than expected while revenues beat the Zacks Consensus Estimate. Moreover, costs are coming down considerably while adjusted EBITDA was way above the forecasted range in the second quarter. To boost user growth rate and engagement levels, Twitter remains focused on “live” and betting big on Periscope. It is now exploring beyond just news and the series of live streaming deals are a step in that direction. Though monthly average users were up 5% year over year, it was unchanged from the last quarter at 328 million users. Stiff competition for ad dollars continues to be a major concern. Shares have underperformed the broader market in the past one year.”
TWTR has been the topic of several other reports. Aegis reissued a sell rating and issued a $12.00 price objective on shares of Twitter in a research report on Thursday, April 13th. Wells Fargo & Company reissued a hold rating and issued a $14.50 price objective on shares of Twitter in a research report on Friday, May 12th. BidaskClub lowered Twitter from a hold rating to a sell rating in a research report on Friday, June 16th. Goldman Sachs Group, Inc. (The) reissued a buy rating and issued a $20.00 price objective on shares of Twitter in a research report on Sunday, July 30th. Finally, BMO Capital Markets reissued a market perform rating and issued a $17.00 price objective on shares of Twitter in a research report on Friday, April 28th. Sixteen research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have issued a buy rating to the stock. Twitter presently has an average rating of Hold and a consensus target price of $15.50.
Twitter (TWTR) traded up 0.68% on Wednesday, reaching $16.29. The company had a trading volume of 15,084,843 shares. The stock’s market capitalization is $11.89 billion. The firm has a 50-day moving average of $18.23 and a 200-day moving average of $16.92. Twitter has a 12 month low of $14.12 and a 12 month high of $25.25.
Twitter (NYSE:TWTR) last issued its earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Twitter had a negative return on equity of 2.93% and a negative net margin of 18.25%. The business had revenue of $574 million for the quarter, compared to analyst estimates of $536.63 million. During the same period last year, the company posted $0.13 EPS. The business’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities research analysts expect that Twitter will post $0.34 earnings per share for the current fiscal year.
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In other Twitter news, Director Evan Clark Williams sold 373,100 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $18.38, for a total value of $6,857,578.00. Following the transaction, the director now owns 2,838,269 shares of the company’s stock, valued at $52,167,384.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Kaiden sold 7,775 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $16.28, for a total value of $126,577.00. The disclosure for this sale can be found here. Insiders sold 2,749,473 shares of company stock worth $50,829,693 in the last ninety days. 10.79% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Investors Inc. PA bought a new position in Twitter during the second quarter valued at about $174,000. State Board of Administration of Florida Retirement System boosted its position in Twitter by 8.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 987,755 shares of the social networking company’s stock valued at $17,651,000 after buying an additional 78,377 shares in the last quarter. Marshall Wace LLP bought a new position in Twitter during the second quarter valued at about $502,000. Marshall Wace North America L.P. bought a new position in Twitter during the second quarter valued at about $1,591,000. Finally, BB&T Securities LLC boosted its position in Twitter by 24.2% in the second quarter. BB&T Securities LLC now owns 162,762 shares of the social networking company’s stock valued at $2,908,000 after buying an additional 31,729 shares in the last quarter. 47.41% of the stock is currently owned by institutional investors.
Twitter Company Profile
Twitter, Inc offers products and services for users, advertisers, developers and data partners. The Company’s products and services include Twitter, Periscope, Promoted Tweets, Promoted Accounts and Promoted Trends. Its Twitter is a platform for public self-expression and conversation in real time. Periscope broadcasts can also be viewed through Twitter and on desktop or mobile Web browser.
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