Twitter Inc. (TWTR) Upgraded at Evercore ISI
Twitter Inc. (NYSE:TWTR) was upgraded by Evercore ISI from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $17.00 target price on the social networking company’s stock. Evercore ISI’s price objective points to a potential downside of 3.19% from the company’s current price.
A number of other research firms have also recently commented on TWTR. Vetr cut Twitter from a “strong-buy” rating to a “buy” rating and set a $20.52 price objective for the company. in a research report on Monday, July 18th. RBC Capital Markets reiterated a “sector perform” rating and set a $20.00 price objective on shares of Twitter in a research report on Tuesday, July 26th. Cantor Fitzgerald cut Twitter from a “buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Pacific Crest reiterated a “hold” rating on shares of Twitter in a research report on Wednesday, July 27th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $16.00 price objective on shares of Twitter in a research report on Wednesday, July 27th. Twelve analysts have rated the stock with a sell rating, twenty-seven have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.66.
Shares of Twitter (NYSE:TWTR) opened at 17.56 on Tuesday. The stock’s 50 day moving average price is $19.93 and its 200-day moving average price is $17.38. Twitter has a 12 month low of $13.73 and a 12 month high of $31.87. The company’s market cap is $12.30 billion.
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Twitter (NYSE:TWTR) last posted its quarterly earnings data on Tuesday, July 26th. The social networking company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. The company earned $602 million during the quarter, compared to analysts’ expectations of $606.37 million. Twitter had a negative return on equity of 6.01% and a negative net margin of 16.51%. Twitter’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. Equities research analysts expect that Twitter will post $0.51 earnings per share for the current year.
In other news, CAO Robert Kaiden sold 12,990 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $16.76, for a total transaction of $217,712.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Messinger sold 4,901 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $23.64, for a total value of $115,859.64. The disclosure for this sale can be found here. Insiders own 10.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Twitter by 36.5% in the second quarter. Vanguard Group Inc. now owns 33,938,829 shares of the social networking company’s stock worth $573,906,000 after buying an additional 9,067,613 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Twitter by 307.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,886,736 shares of the social networking company’s stock worth $48,815,000 after buying an additional 2,177,825 shares in the last quarter. Quantitative Investment Management LLC acquired a new position in Twitter during the second quarter worth approximately $22,334,000. Contrarius Investment Management Ltd boosted its position in Twitter by 25.6% in the second quarter. Contrarius Investment Management Ltd now owns 4,147,508 shares of the social networking company’s stock worth $70,134,000 after buying an additional 844,273 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Twitter during the first quarter worth approximately $13,056,000. Hedge funds and other institutional investors own 41.87% of the company’s stock.
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.
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