Twitter, Inc. (NYSE:TWTR) Downgraded by Zacks Investment Research
Twitter, Inc. (NYSE:TWTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Twitter reported second quarter 2017 results wherein adjusted loss came in narrower than expected while revenues beat the Zacks Consensus Estimate. Moreover, costs are coming down considerably while adjusted EBITDA was way above the forecasted range in the second quarter. To boost user growth rate and engagement levels, Twitter remains focused on “live” and betting big on Periscope. It is now exploring beyond just news and the series of live streaming deals are a step in that direction. Though monthly average users were up 5% year over year, it was unchanged from the last quarter at 328 million users. Stiff competition for ad dollars continues to be a major concern. Shares have underperformed the broader market in the past one year.”
A number of other analysts also recently weighed in on the stock. Vetr raised shares of Twitter from a “buy” rating to a “strong-buy” rating and set a $19.17 price target for the company in a research report on Monday, June 12th. Aegis reissued a “sell” rating and set a $12.00 price target on shares of Twitter in a research report on Thursday, April 13th. Barclays PLC reissued an “underweight” rating and set a $14.00 price target on shares of Twitter in a research report on Monday, April 17th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $20.00 price target on shares of Twitter in a research report on Friday, April 28th. Finally, BidaskClub raised shares of Twitter from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Sixteen research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and six have given a buy rating to the stock. Twitter currently has an average rating of “Hold” and an average target price of $15.50.
Shares of Twitter (NYSE:TWTR) traded down 0.06% during mid-day trading on Monday, hitting $16.28. 5,348,152 shares of the stock traded hands. Twitter has a one year low of $14.12 and a one year high of $25.25. The stock’s market cap is $11.89 billion. The stock has a 50-day moving average of $18.23 and a 200 day moving average of $16.92.
Twitter (NYSE:TWTR) last issued its quarterly earnings data on Thursday, July 27th. The social networking company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $574 million during the quarter, compared to the consensus estimate of $536.63 million. During the same quarter last year, the company earned $0.13 earnings per share. Twitter’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts predict that Twitter will post $0.34 EPS for the current fiscal year.
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In other news, insider Robert Kaiden sold 14,388 shares of Twitter stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $17.71, for a total transaction of $254,811.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Evan Clark Williams sold 684,900 shares of Twitter stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $18.58, for a total value of $12,725,442.00. Following the sale, the director now owns 2,872,607 shares of the company’s stock, valued at $53,373,038.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,749,473 shares of company stock valued at $50,829,693. 9.18% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in TWTR. Kessler Investment Group LLC raised its stake in shares of Twitter by 90.7% in the first quarter. Kessler Investment Group LLC now owns 22,890 shares of the social networking company’s stock valued at $342,000 after buying an additional 10,884 shares in the last quarter. DnB Asset Management AS raised its stake in shares of Twitter by 20.0% in the first quarter. DnB Asset Management AS now owns 52,100 shares of the social networking company’s stock valued at $779,000 after buying an additional 8,700 shares in the last quarter. TB Alternative Assets Ltd. purchased a new stake in shares of Twitter during the first quarter valued at about $4,486,000. Reliance Trust Co. of Delaware raised its stake in shares of Twitter by 33.0% in the first quarter. Reliance Trust Co. of Delaware now owns 80,951 shares of the social networking company’s stock valued at $1,210,000 after buying an additional 20,080 shares in the last quarter. Finally, Berkshire Asset Management LLC PA purchased a new stake in shares of Twitter during the first quarter valued at about $191,000. Institutional investors and hedge funds own 47.02% of the company’s stock.
Twitter Company Profile
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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