Twitter (TWTR) Reaches New 52-Week High on Earnings Beat
Twitter Inc (NYSE:TWTR)’s share price reached a new 52-week high during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $31.30 and last traded at $31.07, with a volume of 126182355 shares. The stock had previously closed at $26.91.
The social networking company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.05. The firm had revenue of $731.60 million during the quarter, compared to the consensus estimate of $686.12 million. Twitter had a negative return on equity of 1.21% and a negative net margin of 15.08%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS.
A number of research analysts have recently commented on TWTR shares. Wells Fargo & Co increased their target price on Twitter from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded Twitter from a “hold” rating to a “strong-buy” rating and set a $25.00 target price for the company in a research report on Tuesday, October 31st. Summit Redstone started coverage on Twitter in a research report on Monday, December 18th. They set a “buy” rating and a $26.00 target price for the company. Stifel Nicolaus upgraded Twitter from a “sell” rating to a “hold” rating and increased their target price for the company from $12.00 to $17.00 in a research report on Thursday, October 26th. Finally, SunTrust Banks reiterated a “hold” rating and set a $18.00 target price (up from $16.00) on shares of Twitter in a research report on Friday, October 27th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.03.
A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in shares of Twitter by 18,701.9% during the fourth quarter. SG Americas Securities LLC now owns 2,419,052 shares of the social networking company’s stock valued at $58,081,000 after buying an additional 2,406,186 shares during the period. Cambiar Investors LLC purchased a new position in shares of Twitter during the fourth quarter valued at $53,753,000. Amerigo Asset Management increased its stake in shares of Twitter by 46.2% during the third quarter. Amerigo Asset Management now owns 6,875,910 shares of the social networking company’s stock valued at $115,997,000 after buying an additional 2,172,000 shares during the period. Key Square Capital Management LLC increased its stake in shares of Twitter by 178.3% during the fourth quarter. Key Square Capital Management LLC now owns 3,367,882 shares of the social networking company’s stock valued at $80,863,000 after buying an additional 2,157,882 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in shares of Twitter by 99.6% during the third quarter. Pictet Asset Management Ltd. now owns 3,551,209 shares of the social networking company’s stock valued at $59,909,000 after buying an additional 1,771,623 shares during the period. Institutional investors and hedge funds own 50.12% of the company’s stock.
The stock has a market cap of $19,990.00, a P/E ratio of -61.74, a P/E/G ratio of 11.01 and a beta of 1.14. The company has a current ratio of 10.40, a quick ratio of 10.40 and a debt-to-equity ratio of 0.35.
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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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