Twitter (TWTR) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Twitter (NYSE:TWTR) from a hold rating to a buy rating in a research report sent to investors on Friday. Zacks Investment Research currently has $28.00 target price on the social networking company’s stock.
According to Zacks, “Twitter shares have outperformed the industry in the past one year. The platform is attracting users due to its openness, real-time content, conversational format and distribution ability. The company is focusing on boosting user growth rate and engagement levels by taking various measures like making tweeting easier for people and more expressive. Twitter has been benefiting from rising number of increasing mobile users and strategic acquisitions. Moreover, aggressive cost cutting will help Twitter achieve long term EBITDA target. We believe Twitter’s much awaited turnaround likely to be driven by its focus on live video streaming which, in turn, will bring more ad dollars. Estimates have been going up ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters.”
Several other brokerages have also weighed in on TWTR. Jefferies Group reaffirmed a hold rating and issued a $22.00 target price on shares of Twitter in a research report on Monday, January 8th. Vetr lowered Twitter from a strong-buy rating to a buy rating and set a $26.90 target price on the stock. in a research report on Wednesday, January 3rd. BTIG Research increased their target price on Twitter from $25.00 to $30.00 and gave the stock a buy rating in a research report on Friday. Pivotal Research reaffirmed a hold rating and issued a $21.00 target price on shares of Twitter in a research report on Wednesday. Finally, JPMorgan Chase & Co. raised Twitter from a neutral rating to an overweight rating and increased their target price for the stock from $20.00 to $27.00 in a research report on Monday, December 18th. Twelve analysts have rated the stock with a sell rating, twenty have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average price target of $18.90.
Shares of Twitter (NYSE:TWTR) traded up $1.06 during midday trading on Friday, reaching $25.41. The company’s stock had a trading volume of 36,973,000 shares, compared to its average volume of 17,420,000. Twitter has a 1 year low of $14.12 and a 1 year high of $25.85. The company has a debt-to-equity ratio of 0.35, a current ratio of 10.40 and a quick ratio of 10.40. The firm has a market capitalization of $18,870.00, a price-to-earnings ratio of -49.82, a PEG ratio of 10.62 and a beta of 1.11.
Twitter (NYSE:TWTR) last issued its earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.03. Twitter had a negative return on equity of 1.21% and a negative net margin of 15.08%. The firm had revenue of $590.00 million for the quarter, compared to analyst estimates of $586.22 million. During the same period last year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. equities research analysts predict that Twitter will post 0.02 earnings per share for the current year.
In related news, General Counsel Vijaya Gadde sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $18.19, for a total transaction of $272,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Robert Kaiden sold 6,574 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $20.59, for a total value of $135,358.66. The disclosure for this sale can be found here. Insiders have sold 5,335,712 shares of company stock valued at $113,614,151 in the last ninety days. Company insiders own 10.79% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Balentine LLC boosted its position in shares of Twitter by 86.6% in the 3rd quarter. Balentine LLC now owns 6,822 shares of the social networking company’s stock valued at $115,000 after purchasing an additional 3,167 shares during the period. Toronto Dominion Bank boosted its position in shares of Twitter by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock valued at $136,000 after purchasing an additional 1,333 shares during the period. Malaga Cove Capital LLC acquired a new position in shares of Twitter in the 3rd quarter valued at $154,000. Rockland Trust Co. acquired a new position in shares of Twitter in the 4th quarter valued at $219,000. Finally, Federated Investors Inc. PA acquired a new position in shares of Twitter in the 2nd quarter valued at $174,000. 50.69% of the stock is owned by institutional investors and hedge funds.
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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