Wedbush Reaffirms “Hold” Rating for Twitter, Inc. (NYSE:TWTR)
Several other equities research analysts have also recently weighed in on the company. Aegis restated a sell rating and set a $13.00 target price on shares of Twitter in a report on Thursday. Bank of America Corporation increased their target price on Twitter from $15.50 to $17.00 and gave the company an underperform rating in a report on Tuesday, July 25th. Cantor Fitzgerald restated a neutral rating and set a $16.00 target price on shares of Twitter in a report on Tuesday, July 25th. Canaccord Genuity reiterated a hold rating and issued a $15.00 price objective on shares of Twitter in a report on Monday, July 24th. Finally, Wells Fargo & Company reiterated a market perform rating on shares of Twitter in a report on Saturday, July 22nd. Sixteen investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $15.55.
Shares of Twitter (NYSE:TWTR) traded down 3.015% during mid-day trading on Thursday, hitting $16.245. The stock had a trading volume of 8,999,269 shares. Twitter has a 12 month low of $14.12 and a 12 month high of $25.25. The firm has a 50 day moving average price of $18.28 and a 200-day moving average price of $16.94. The stock’s market cap is $11.86 billion.
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, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $574 million during the quarter, compared to analysts’ expectations of $536.63 million. Twitter had a negative return on equity of 2.93% and a negative net margin of 18.25%. Twitter’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 EPS. On average, equities research analysts forecast that Twitter will post $0.34 EPS for the current year.
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In related news, Director Evan Clark Williams sold 853,700 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $19.38, for a total value of $16,544,706.00. Following the completion of the sale, the director now owns 2,735,038 shares in the company, valued at $53,005,036.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Vijaya Gadde sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $18.03, for a total value of $135,225.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,759,473 shares of company stock worth $51,037,257. Insiders own 9.18% of the company’s stock.
Several hedge funds have recently made changes to their positions in TWTR. Comerica Bank purchased a new stake in shares of Twitter during the fourth quarter worth about $473,000. Perigon Wealth Management LLC raised its stake in shares of Twitter by 1.9% in the fourth quarter. Perigon Wealth Management LLC now owns 31,209 shares of the social networking company’s stock worth $492,000 after buying an additional 590 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Twitter by 2.4% in the fourth quarter. Teachers Advisors LLC now owns 814,894 shares of the social networking company’s stock worth $13,283,000 after buying an additional 19,411 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of Twitter by 22.0% in the first quarter. Raymond James Trust N.A. now owns 16,304 shares of the social networking company’s stock worth $243,000 after buying an additional 2,936 shares during the last quarter. Finally, Douglass Winthrop Advisors LLC purchased a new stake in shares of Twitter during the first quarter worth about $404,000. Hedge funds and other institutional investors own 47.41% of the company’s stock.
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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