Twitter, Inc. (TWTR) Rating Increased to Strong-Buy at Vetr Inc.
Twitter, Inc. (NYSE:TWTR) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $19.82 price objective on the social networking company’s stock. Vetr‘s price objective points to a potential upside of 13.84% from the company’s current price.
A number of other research firms have also weighed in on TWTR. BidaskClub upgraded Twitter from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. BMO Capital Markets restated a “hold” rating and issued a $17.00 target price on shares of Twitter in a report on Sunday, July 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $16.00 target price on shares of Twitter in a report on Tuesday, July 25th. J P Morgan Chase & Co restated a “neutral” rating and issued a $15.00 target price on shares of Twitter in a report on Saturday, July 22nd. Finally, Wedbush lowered Twitter from an “outperform” rating to a “neutral” rating and raised their target price for the company from $14.00 to $16.00 in a report on Monday, July 24th. Sixteen analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Twitter presently has a consensus rating of “Hold” and an average target price of $15.44.
Twitter (TWTR) traded down 1.47% during midday trading on Tuesday, reaching $17.41. Twitter has a 52 week low of $14.12 and a 52 week high of $20.88. The stock’s 50 day moving average is $17.31 and its 200-day moving average is $17.19. The firm’s market capitalization is $12.76 billion.
Twitter (NYSE:TWTR) last posted its earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.03. Twitter had a negative return on equity of 2.91% and a negative net margin of 18.25%. The company had revenue of $574.00 million for the quarter, compared to analyst estimates of $536.63 million. During the same quarter last year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities research analysts expect that Twitter will post $0.33 earnings per share for the current year.
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In related news, Director Evan Clark Williams sold 9,845 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $17.02, for a total transaction of $167,561.90. Following the transaction, the director now owns 2,636,518 shares in the company, valued at approximately $44,873,536.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Vijaya Gadde sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $16.07, for a total value of $241,050.00. The disclosure for this sale can be found here. In the last three months, insiders sold 2,231,100 shares of company stock valued at $40,370,286. 9.18% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Twitter by 6.2% during the 2nd quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock valued at $872,704,000 after purchasing an additional 2,838,459 shares during the period. Clearbridge Investments LLC increased its holdings in Twitter by 17.8% during the 1st quarter. Clearbridge Investments LLC now owns 36,805,927 shares of the social networking company’s stock valued at $550,249,000 after purchasing an additional 5,561,940 shares during the period. Mackay Shields purchased a new position in Twitter during the 4th quarter valued at about $15,077,000. OppenheimerFunds Inc. increased its holdings in Twitter by 42.3% during the 1st quarter. OppenheimerFunds Inc. now owns 10,088,428 shares of the social networking company’s stock valued at $150,822,000 after purchasing an additional 2,999,690 shares during the period. Finally, State Street Corp increased its holdings in Twitter by 3.5% during the 1st quarter. State Street Corp now owns 9,367,582 shares of the social networking company’s stock valued at $155,031,000 after purchasing an additional 317,209 shares during the period. Institutional investors own 49.14% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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