Twitter, Inc. (TWTR) Rating Reiterated by Royal Bank Of Canada
Royal Bank Of Canada reissued their underperform rating on shares of Twitter, Inc. (NYSE:TWTR) in a research report released on Thursday morning, Marketbeat reports. The firm currently has a $14.00 target price on the social networking company’s stock, up from their prior target price of $13.00.
A number of other research firms have also recently commented on TWTR. J P Morgan Chase & Co reaffirmed a neutral rating and set a $15.00 target price on shares of Twitter in a research note on Saturday, July 22nd. Morgan Stanley reaffirmed an underweight rating and set a $10.00 target price on shares of Twitter in a research note on Saturday, July 22nd. Wells Fargo & Company reaffirmed a market perform rating on shares of Twitter in a research note on Saturday, July 22nd. Canaccord Genuity reaffirmed a hold rating and set a $15.00 target price on shares of Twitter in a research note on Monday, July 24th. Finally, Wedbush cut Twitter from an outperform rating to a neutral rating and upped their target price for the company from $14.00 to $16.00 in a research note on Monday, July 24th. Sixteen investment 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 company’s stock. Twitter presently has a consensus rating of Hold and an average target price of $15.55.
Shares of Twitter (TWTR) traded down 3.015% during midday trading on Thursday, reaching $16.245. The company had a trading volume of 8,999,269 shares. The stock has a 50-day moving average of $18.28 and a 200 day moving average of $16.94. Twitter has a 52 week low of $14.12 and a 52 week high of $25.25. The firm’s market capitalization is $11.86 billion.
Twitter (NYSE:TWTR) last issued its quarterly earnings data on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $574 million for the quarter, compared to analysts’ expectations of $536.63 million. During the same period in the previous year, the firm posted $0.13 earnings per share. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts anticipate that Twitter will post $0.34 earnings per share for the current year.
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In other news, insider Robert Kaiden sold 2,815 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $18.37, for a total transaction of $51,711.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Evan Clark Williams sold 42,070 shares of the stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $19.26, for a total transaction of $810,268.20. Following the sale, the director now directly owns 2,735,038 shares in the company, valued at $52,676,831.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,759,473 shares of company stock worth $51,037,257. Corporate insiders own 9.18% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of TWTR. Mosaic Family Wealth LLC raised its position in shares of Twitter by 14.2% in the first quarter. Mosaic Family Wealth LLC now owns 7,034 shares of the social networking company’s stock worth $105,000 after buying an additional 875 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Twitter during the first quarter worth $107,000. Nicolet Bankshares Inc. raised its position in shares of Twitter by 227.6% in the first quarter. Nicolet Bankshares Inc. now owns 7,821 shares of the social networking company’s stock worth $117,000 after buying an additional 5,434 shares in the last quarter. Westside Investment Management Inc. raised its position in shares of Twitter by 46.0% in the first quarter. Westside Investment Management Inc. now owns 10,454 shares of the social networking company’s stock worth $152,000 after buying an additional 3,295 shares in the last quarter. Finally, TRUE Private Wealth Advisors bought a new position in shares of Twitter during the first quarter worth $153,000. 47.41% of the stock is currently owned by hedge funds and other 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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