Mizuho Initiates Coverage on Twitter, Inc. (NYSE:TWTR)
Analysts at Mizuho initiated coverage on shares of Twitter, Inc. (NYSE:TWTR) in a report issued on Monday, The Fly reports. The brokerage set an “underperform” rating on the social networking company’s stock.
Other research analysts also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Twitter in a research report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Twitter in a research report on Friday, April 28th. BTIG Research reaffirmed a “buy” rating on shares of Twitter in a research report on Friday, April 28th. Drexel Hamilton reaffirmed a “buy” rating on shares of Twitter in a research report on Tuesday, May 2nd. Finally, Vetr raised shares of Twitter from a “hold” rating to a “buy” rating and set a $18.68 price objective on the stock in a research report on Monday, May 29th. Sixteen analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.50.
Shares of Twitter (NYSE:TWTR) traded up 0.68% during midday trading on Monday, reaching $16.40. 9,106,658 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $18.23 and its 200 day moving average price is $16.92. Twitter has a 12-month low of $14.12 and a 12-month high of $25.25. The company’s market cap is $11.97 billion.
Twitter (NYSE:TWTR) last posted its quarterly earnings results on Thursday, July 27th. The social networking company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Twitter had a negative net margin of 18.25% and a negative return on equity of 2.91%. The business had revenue of $574 million during the quarter, compared to analyst estimates of $536.63 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities analysts anticipate that Twitter will post $0.34 earnings per share for the current fiscal year.
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In other Twitter news, insider Robert Kaiden sold 4,725 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $16.06, for a total transaction of $75,883.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Evan Clark Williams sold 373,100 shares of the stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $18.38, for a total transaction of $6,857,578.00. Following the transaction, the director now directly owns 2,838,269 shares of the company’s stock, valued at approximately $52,167,384.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,749,473 shares of company stock valued at $50,829,693. 9.18% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Clearbridge Investments LLC raised its position in shares of Twitter by 17.8% in the first quarter. Clearbridge Investments LLC now owns 36,805,927 shares of the social networking company’s stock valued at $550,249,000 after buying an additional 5,561,940 shares during the period. OppenheimerFunds Inc. raised its position in shares of Twitter by 42.3% in the first quarter. OppenheimerFunds Inc. now owns 10,088,428 shares of the social networking company’s stock valued at $150,822,000 after buying an additional 2,999,690 shares during the period. Amerigo Asset Management raised its position in shares of Twitter by 64.3% in the first quarter. Amerigo Asset Management now owns 6,463,910 shares of the social networking company’s stock valued at $96,635,000 after buying an additional 2,528,910 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in shares of Twitter during the second quarter valued at $38,366,000. Finally, Vanguard Group Inc. raised its position in shares of Twitter by 4.1% in the first quarter. Vanguard Group Inc. now owns 45,997,766 shares of the social networking company’s stock valued at $687,667,000 after buying an additional 1,819,941 shares during the period. 47.02% of the stock is owned by institutional investors.
Twitter, Inc offers products and services for users, advertisers, developers and data partners. The Company’s products and services include Twitter, Periscope, Promoted Tweets, Promoted Accounts and Promoted Trends. Its Twitter is a platform for public self-expression and conversation in real time. Periscope broadcasts can also be viewed through Twitter and on desktop or mobile Web browser.
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