Vetr Inc. Upgrades Twitter Inc. (TWTR) to “Strong-Buy”
Twitter Inc. (NYSE:TWTR) was upgraded by equities research analysts at Vetr from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday. The brokerage currently has a $24.69 price target on the social networking company’s stock. Vetr‘s price target would suggest a potential upside of 40.60% from the company’s current price.
TWTR has been the subject of a number of other reports. Loop Capital initiated coverage on Twitter in a research note on Thursday, September 22nd. They set a “hold” rating and a $18.00 target price for the company. They noted that the move was a valuation call. Nomura reissued a “neutral” rating and set a $13.00 target price on shares of Twitter in a research note on Wednesday, September 28th. Morgan Stanley reissued a “sell” rating on shares of Twitter in a research note on Thursday, September 29th. Cantor Fitzgerald reissued a “hold” rating and set a $18.00 target price on shares of Twitter in a research note on Wednesday, September 14th. Finally, Jefferies Group reissued a “buy” rating and set a $23.00 target price on shares of Twitter in a research note on Tuesday, August 9th. Thirteen research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Twitter presently has an average rating of “Hold” and a consensus target price of $19.66.
Shares of Twitter (NYSE:TWTR) traded down 11.54% during midday trading on Monday, hitting $17.56. The company had a trading volume of 105,887,343 shares. The firm’s market capitalization is $12.30 billion. Twitter has a 12 month low of $13.73 and a 12 month high of $31.87. The company has a 50-day moving average of $19.93 and a 200 day moving average of $17.38.
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Twitter (NYSE:TWTR) last issued its earnings results on Tuesday, July 26th. The social networking company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The business earned $602 million during the quarter, compared to the consensus estimate of $606.37 million. Twitter had a negative return on equity of 6.01% and a negative net margin of 16.51%. The company’s revenue for the quarter was up 19.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. On average, analysts expect that Twitter will post $0.51 EPS for the current fiscal year.
In other news, insider Adam Messinger sold 4,901 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $23.64, for a total value of $115,859.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Kaiden sold 3,604 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $20.06, for a total value of $72,296.24. The disclosure for this sale can be found here. Insiders own 10.79% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in TWTR. Legal & General Group Plc raised its stake in Twitter by 4.1% in the first quarter. Legal & General Group Plc now owns 1,756,013 shares of the social networking company’s stock worth $29,062,000 after buying an additional 69,951 shares during the last quarter. National Pension Service raised its stake in Twitter by 4.4% in the first quarter. National Pension Service now owns 319,211 shares of the social networking company’s stock worth $5,283,000 after buying an additional 13,564 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Twitter during the first quarter worth about $13,056,000. Arete Wealth Advisors LLC acquired a new stake in Twitter during the first quarter worth about $243,000. Finally, Pictet Asset Management Ltd. raised its stake in Twitter by 2.2% in the first quarter. Pictet Asset Management Ltd. now owns 551,774 shares of the social networking company’s stock worth $9,998,000 after buying an additional 12,074 shares during the last quarter. Institutional investors own 41.87% of the company’s stock.
Twitter Company Profile
Twitter, Inc (Twitter) offers products and services for users, advertisers, developers and platform and data partners. The Company’s service is live-live commentary, live connections, live conversations. Its products and services for users include Twitter, and Periscope and Vine. Its Twitter is a platform for public self-expression and conversation in real time.
To view Vetr’s full report, visit Vetr’s official website.
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