Twitter Given “Neutral” Rating at Zacks (TWTR)
Twitter (NYSE:TWTR)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued on Monday. They currently have a $43.00 target price on the stock. Zacks‘s price objective would indicate a potential upside of 5.06% from the stock’s previous close.
Zacks’ analyst wrote, “Twitter’s first-quarter results disappointed due to slowing user base and engagement. Adjusted loss per share was narrower than the Zacks Consensus Estimate, while revenues managed to beat the same. Management provided optimistic guidance for 2014. However, user growth rate will remain a concern in the near term. Nevertheless, we believe that new products such as app install ads and expanded MoPub features are the key growth catalysts. Twitter’s growing relevancy during live major events will add to its user base. As spending on online advertising is expected to increase manifold compared to traditional media, we believe that the company has massive growth opportunity, due to its strong position in mobile. International expansion and accretive acquisitions are other significant positives. However, Twitter’s ability to attract advertising revenues amid significant competition will be a key factor in determining its growth. Additionally, higher operating costs will hurt profitability in the near term. We maintain our Neutral recommendation and set a price target of $43.00.”
A number of other firms have also recently commented on TWTR. Analysts at Barclays initiated coverage on shares of Twitter in a research note on Thursday. They set an “overweight” rating and a $46.00 price target on the stock. Separately, analysts at S&P Equity Research downgraded shares of Twitter to a “hold” rating in a research note on Tuesday, June 17th. Finally, analysts at Wells Fargo & Co. upgraded shares of Twitter from an “underperform” rating to a “market perform” rating in a research note on Tuesday, June 10th. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Twitter presently has an average rating of “Hold” and an average price target of $45.59.
In other Twitter news, General Counsel Vijaya Gadde unloaded 16,459 shares of the company’s stock on the open market in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $40.00, for a total value of $658,360.00. The sale was disclosed in a filing with the SEC, which is available at this link.
Twitter (NYSE:TWTR) traded up 0.25% during mid-day trading on Monday, hitting $41.031. 13,120,795 shares of the company’s stock traded hands. Twitter has a 1-year low of $29.51 and a 1-year high of $74.73. The stock has a 50-day moving average of $34.91 and a 200-day moving average of $48.52. The company’s market cap is $23.959 billion.
Twitter (NYSE:TWTR) last released its earnings data on Tuesday, April 29th. The company reported ($0.22) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.03) by $0.19. The company had revenue of $250.00 million for the quarter, compared to the consensus estimate of $240.90 million. During the same quarter last year, the company posted ($0.08) earnings per share. Twitter’s revenue was up 119.7% compared to the same quarter last year. On average, analysts predict that Twitter will post $0.04 earnings per share for the current fiscal year.
Twitter, Inc (NYSE:TWTR) is a global platform for public self-expression and conversation in real time.
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