Twitter Inc. (TWTR) Receives “Hold” Rating from Canaccord Genuity
Twitter Inc. (NYSE:TWTR)‘s stock had its “hold” rating reissued by investment analysts at Canaccord Genuity in a research report issued on Wednesday. They currently have a $16.00 target price on the social networking company’s stock. Canaccord Genuity’s price objective points to a potential downside of 11.36% from the company’s current price.
A number of other research analysts have also weighed in on TWTR. Deutsche Bank AG reissued a “buy” rating on shares of Twitter in a research report on Sunday, July 10th. MKM Partners set a $18.50 price objective on shares of Twitter and gave the stock a “hold” rating in a report on Sunday, September 4th. Pacific Crest restated a “hold” rating on shares of Twitter in a report on Wednesday, July 27th. Cantor Fitzgerald downgraded shares of Twitter from a “buy” rating to a “hold” rating in a report on Wednesday, July 27th. Finally, Argus restated a “hold” rating on shares of Twitter in a report on Thursday, July 28th. Twelve investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating, six 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 price target of $19.64.
Twitter (NYSE:TWTR) traded up 0.28% during mid-day trading on Wednesday, reaching $18.05. 23,498,819 shares of the company’s stock were exchanged. The stock’s market cap is $12.64 billion. The company has a 50-day moving average of $19.91 and a 200-day moving average of $17.38. Twitter has a 52-week low of $13.73 and a 52-week high of $31.87.
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Twitter (NYSE:TWTR) last released its quarterly earnings results on Tuesday, July 26th. The social networking company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.03. Twitter had a negative net margin of 16.51% and a negative return on equity of 6.01%. The company had revenue of $602 million for the quarter, compared to analyst estimates of $606.37 million. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue was up 19.9% on a year-over-year basis. Equities research analysts anticipate that Twitter will post $0.51 earnings per share for the current year.
In other Twitter news, insider Robert Kaiden sold 3,604 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $20.06, for a total transaction of $72,296.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Messinger sold 4,901 shares of the stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $23.64, for a total transaction of $115,859.64. The disclosure for this sale can be found here. Company insiders own 10.79% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of 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 during the period. BlackRock Institutional Trust Company N.A. increased its position in Twitter by 3.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 14,720,526 shares of the social networking company’s stock worth $248,924,000 after buying an additional 500,681 shares in the last quarter. State Street Corp increased its position in Twitter by 3.5% in the first quarter. State Street Corp now owns 9,367,582 shares of the social networking company’s stock worth $155,031,000 after buying an additional 317,209 shares in the last quarter. First Trust Advisors LP increased its position in Twitter by 17.7% in the second quarter. First Trust Advisors LP now owns 5,249,841 shares of the social networking company’s stock worth $88,775,000 after buying an additional 787,807 shares in the last quarter. Finally, Contrarius Investment Management Ltd increased 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. 41.87% of the stock is owned by institutional investors and hedge funds.
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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