Twitter’s (TWTR) “Hold” Rating Reiterated at SunTrust Banks Inc.
Twitter Inc. (NYSE:TWTR)‘s stock had its “hold” rating reissued by analysts at SunTrust Banks Inc. in a note issued to investors on Wednesday. They currently have a $18.00 price objective on the social networking company’s stock.
A number of other research analysts have also issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating on shares of Twitter in a report on Sunday, September 25th. Vetr raised Twitter from a “hold” rating to a “strong-buy” rating and set a $24.69 target price on the stock in a report on Monday. Jefferies Group reaffirmed a “buy” rating and set a $23.00 target price on shares of Twitter in a report on Monday, August 22nd. Evercore ISI lowered Twitter from a “hold” rating to a “sell” rating and lowered their target price for the stock from $18.00 to $17.00 in a report on Thursday, August 18th. Finally, Zacks Investment Research lowered Twitter from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. Twelve investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Twitter currently has an average rating of “Hold” and a consensus price target of $19.66.
Twitter (NYSE:TWTR) traded up 0.28% on Wednesday, hitting $18.05. 23,463,973 shares of the stock were exchanged. The company’s market cap is $12.64 billion. Twitter has a 52 week low of $13.73 and a 52 week high of $31.87. The company’s 50-day moving average is $19.91 and its 200-day moving average is $17.38.
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Twitter (NYSE:TWTR) last released 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 firm had revenue of $602 million for the quarter, compared to analyst estimates 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 was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.07 earnings per share. On average, analysts predict that Twitter will post $0.51 earnings per share for the current year.
In other news, insider Adam Messinger sold 52,914 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $16.76, for a total transaction of $886,838.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Kaiden sold 3,604 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was 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 and other institutional investors have recently bought and sold shares of TWTR. Vanguard Group Inc. boosted its position 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 valued at $573,906,000 after buying an additional 9,067,613 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in shares of Twitter by 307.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,886,736 shares of the social networking company’s stock valued at $48,815,000 after buying an additional 2,177,825 shares during the period. Quantitative Investment Management LLC bought a new position in shares of Twitter during the second quarter valued at approximately $22,334,000. Contrarius Investment Management Ltd boosted its position in shares of 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 valued at $70,134,000 after buying an additional 844,273 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Twitter during the first quarter valued at approximately $13,056,000. 41.87% of the stock is owned by institutional investors.
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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