Twitter Coverage Initiated by Analysts at Goldman Sachs Group Inc. (TWTR)
Stock analysts at Goldman Sachs Group Inc. started coverage on shares of Twitter (NYSE:TWTR) in a report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $46.00 price target on the stock. Goldman Sachs Group Inc.’s price target would indicate a potential upside of 12.80% from the company’s current price.
The analysts wrote, “we believe there is substantial long-term value in Twitter’s potential to become the leading platform for real time mass communication. As Twitter grows users, engagement, and monetization through product enhancements, geographic expansion, and advertiser adoption, we see opportunity for growth acceleration and positive estimate revisions. While its growth trajectory is unlikely to be linear, we believe these revisions will, over time, justify considerable upside.”
Shares of Twitter (NYSE:TWTR) traded down 1.90% on Monday, hitting $40.78. 6,426,160 shares of the company’s stock traded hands. Twitter has a 52-week low of $38.80 and a 52-week high of $50.09. The stock’s 50-day moving average is $41.95 and its 200-day moving average is $41.95. The company’s market cap is $22.213 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Miller Tabak initiated coverage on shares of Twitter in a research note to investors on Wednesday, November 27th. They set a “hold” rating on the stock. Separately, analysts at MKM Partners initiated coverage on shares of Twitter in a research note to investors on Wednesday, November 27th. They set a “buy” rating and a $50.00 price target on the stock. Finally, analysts at SunTrust reiterated a “positive” rating on shares of Twitter in a research note to investors on Monday, November 25th. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. Twitter has an average rating of “Hold” and an average target price of $40.83.
Twitter operates a free digital service site that blends social networking with the ability to post short messages (NYSE:TWTR) limited to 140 characters or less, commonly known by users as Tweets.
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