Twitter’s (TWTR) “Hold” Rating Reaffirmed at SunTrust Banks, Inc.
Twitter, Inc. (NYSE:TWTR)‘s stock had its “hold” rating reissued by investment analysts at SunTrust Banks, Inc. in a report released on Thursday. They currently have a $16.00 target price on the social networking company’s stock. SunTrust Banks, Inc.’s target price points to a potential downside of 13.28% from the company’s current price.
Other equities research analysts have also issued reports about the company. Vetr upgraded Twitter from a “buy” rating to a “strong-buy” rating and set a $19.82 price target for the company in a research note on Tuesday. Zacks Investment Research lowered Twitter from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank Of Canada restated a “sell” rating and set a $14.00 price target on shares of Twitter in a research note on Sunday. BidaskClub upgraded Twitter from a “hold” rating to a “buy” rating in a research note on Friday, October 6th. Finally, KeyCorp restated a “hold” rating on shares of Twitter in a research note on Wednesday, October 4th. Sixteen analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $15.44.
Shares of Twitter (NYSE:TWTR) traded up 4.06% during mid-day trading on Thursday, hitting $18.45. The company’s stock had a trading volume of 30,709,103 shares. The stock has a 50-day moving average of $17.34 and a 200-day moving average of $17.19. The company’s market cap is $13.52 billion. Twitter has a 12-month low of $14.12 and a 12-month high of $20.88.
Twitter (NYSE:TWTR) last released its earnings results on Thursday, July 27th. The social networking company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.03. The firm had revenue of $574.00 million during the quarter, compared to analyst estimates of $536.63 million. Twitter had a negative return on equity of 2.91% and a negative net margin of 18.25%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, equities research analysts forecast that Twitter will post $0.33 EPS for the current year.
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In related news, insider Robert Kaiden sold 4,725 shares of Twitter stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $16.06, for a total transaction of $75,883.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Evan Clark Williams sold 9,845 shares of Twitter stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $17.02, for a total value of $167,561.90. Following the sale, the director now directly owns 2,636,518 shares in the company, valued at $44,873,536.36. The disclosure for this sale can be found here. Insiders sold 2,189,030 shares of company stock worth $39,560,018 over the last quarter. 10.79% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vivaldi Asset Management LLC acquired a new stake in Twitter during the second quarter valued at approximately $7,521,000. Allen Investment Management LLC acquired a new stake in Twitter during the second quarter valued at approximately $7,169,000. State of Alaska Department of Revenue boosted its holdings in Twitter by 77.5% during the second quarter. State of Alaska Department of Revenue now owns 29,068 shares of the social networking company’s stock valued at $519,000 after purchasing an additional 12,690 shares in the last quarter. Contrarius Investment Management Ltd boosted its holdings in Twitter by 17.4% during the second quarter. Contrarius Investment Management Ltd now owns 5,553,048 shares of the social networking company’s stock valued at $99,233,000 after purchasing an additional 822,455 shares in the last quarter. Finally, Prospera Financial Services Inc acquired a new stake in Twitter during the second quarter valued at approximately $315,000. 49.14% of the stock is currently 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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