Twitter, Inc. (TWTR) Earns “Hold” Rating from Cantor Fitzgerald
Twitter, Inc. (NYSE:TWTR)‘s stock had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald in a note issued to investors on Monday. They currently have a $16.00 price target on the social networking company’s stock. Cantor Fitzgerald’s price target would suggest a potential downside of 6.65% from the company’s previous close.
The analysts wrote, “3Q results better-than-expected. Revenue decreased 4.3% Y/Y to $589.6M (-1% ex TellApart), 0.4% above consensus’ (StreetAccount) $587M. Ad revenue declined 7.7% Y/Y to $502.8M (vs. cons. $498M), and data licensing revenue increased 22.3% Y/Y to $86.8M (vs. cons. $87.5M). EBITDA and NEPS of $207.0M/$0.10 handily exceeded cons.””
A number of other research firms have also recently weighed in on TWTR. Wells Fargo & Company reiterated a “market perform” rating on shares of Twitter in a research report on Saturday, July 22nd. Morgan Stanley reiterated an “underweight” rating and set a $10.00 price objective on shares of Twitter in a research report on Saturday, July 22nd. J P Morgan Chase & Co reiterated a “neutral” rating and set a $15.00 price objective on shares of Twitter in a research report on Saturday, July 22nd. Canaccord Genuity reiterated a “hold” rating and set a $15.00 price objective on shares of Twitter in a research report on Monday, July 24th. Finally, Wedbush cut shares of Twitter from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Monday, July 24th. Fourteen investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Twitter currently has a consensus rating of “Hold” and a consensus price target of $15.50.
Shares of Twitter (TWTR) traded up 18.8454% during midday trading on Monday, reaching $20.3701. 92,439,051 shares of the company’s stock were exchanged. The stock’s market cap is $14.93 billion. The stock’s 50 day moving average is $17.63 and its 200-day moving average is $17.42. Twitter has a 12-month low of $14.12 and a 12-month high of $20.88.
Twitter (NYSE:TWTR) last posted its quarterly earnings data on Wednesday, October 25th. The social networking company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 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 $590.00 million for the quarter, compared to analysts’ expectations of $586.22 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. On average, equities analysts expect that Twitter will post $0.33 EPS for the current year.
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In other news, insider Robert Kaiden sold 3,695 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $16.78, for a total transaction of $62,002.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Vijaya Gadde sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $18.19, for a total transaction of $272,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,759,445 shares of company stock worth $30,631,777 in the last ninety days. Corporate insiders own 9.18% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Pictet Asset Management Ltd. grew its stake in Twitter by 99.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 3,551,209 shares of the social networking company’s stock valued at $59,909,000 after acquiring an additional 1,771,623 shares during the period. New Jersey Better Educational Savings Trust acquired a new stake in Twitter in the 3rd quarter valued at $202,000. State of New Jersey Common Pension Fund D grew its stake in Twitter by 20.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 600,000 shares of the social networking company’s stock valued at $10,122,000 after acquiring an additional 100,000 shares during the period. First Trust Advisors LP grew its stake in Twitter by 5.3% in the 3rd quarter. First Trust Advisors LP now owns 7,633,764 shares of the social networking company’s stock valued at $128,782,000 after acquiring an additional 385,181 shares during the period. Finally, Gladstone Capital Management LLP grew its stake in Twitter by 59.6% in the 3rd quarter. Gladstone Capital Management LLP now owns 614,536 shares of the social networking company’s stock valued at $10,674,000 after acquiring an additional 229,500 shares during the period. 49.42% of the stock is currently owned by institutional investors and hedge funds.
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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