BMO Capital Markets Reaffirms “Hold” Rating for Twitter, Inc. (TWTR)
BMO Capital Markets reiterated their hold rating on shares of Twitter, Inc. (NYSE:TWTR) in a report released on Wednesday morning. They currently have a $17.00 target price on the social networking company’s stock.
TWTR has been the topic of several other research reports. Zacks Investment Research upgraded shares of Twitter from a hold rating to a buy rating and set a $20.00 price target on the stock in a report on Tuesday, June 27th. BidaskClub lowered shares of Twitter from a hold rating to a sell rating in a report on Friday, June 16th. Robert W. Baird restated a hold rating and issued a $17.00 price target on shares of Twitter in a report on Friday, September 1st. Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $20.00 price target on shares of Twitter in a report on Sunday, July 30th. Finally, Vetr upgraded shares of Twitter from a hold rating to a buy rating and set a $20.00 price target on the stock in a report on Tuesday, June 27th. Seventeen investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and six have given a buy rating to the company’s stock. Twitter has a consensus rating of Hold and an average target price of $15.49.
Twitter (TWTR) opened at 18.01 on Wednesday. Twitter has a one year low of $14.12 and a one year high of $25.25. The company has a 50 day moving average of $16.69 and a 200-day moving average of $16.90. The firm’s market cap is $13.20 billion.
Twitter (NYSE:TWTR) last posted its quarterly earnings results on Thursday, July 27th. The social networking company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. Twitter had a negative net margin of 18.25% and a negative return on equity of 2.91%. The firm had revenue of $574.00 million for the quarter, compared to analyst estimates of $536.63 million. During the same quarter last year, the firm posted $0.13 earnings per share. Twitter’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts predict that Twitter will post $0.33 earnings per share for the current year.
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In related news, Director Evan Clark Williams sold 853,700 shares of Twitter stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $19.38, for a total transaction of $16,544,706.00. Following the sale, the director now directly owns 2,735,038 shares in the company, valued at $53,005,036.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Kaiden sold 3,695 shares of Twitter stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $16.78, for a total transaction of $62,002.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,361,870 shares of company stock worth $43,006,805. Company insiders own 10.79% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Intl Fcstone Inc. grew its holdings in Twitter by 174.1% during the second quarter. Intl Fcstone Inc. now owns 37,151 shares of the social networking company’s stock worth $664,000 after acquiring an additional 23,599 shares during the period. Toronto Dominion Bank grew its holdings in Twitter by 21.3% during the second quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock worth $136,000 after acquiring an additional 1,333 shares during the period. EP Wealth Advisors LLC acquired a new position in Twitter during the second quarter worth about $211,000. Public Employees Retirement System of Ohio grew its holdings in Twitter by 2.3% during the second quarter. Public Employees Retirement System of Ohio now owns 284,027 shares of the social networking company’s stock worth $5,076,000 after acquiring an additional 6,446 shares during the period. Finally, National Asset Management Inc. grew its holdings in Twitter by 14.4% during the second quarter. National Asset Management Inc. now owns 59,272 shares of the social networking company’s stock worth $1,060,000 after acquiring an additional 7,460 shares during the period. Institutional investors and hedge funds own 49.17% of the company’s stock.
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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