Twitter, Inc. (TWTR) Upgraded to “Hold” by Zacks Investment Research
Twitter, Inc. (NYSE:TWTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Twitter shares have underperformed the broader market in the past one year. Slowdown in its user base and ad revenues remain areas of concerns. Moreover, increasing competition and stringent regulations for social media platforms continue to be overhangs. However, 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. Also, Twitter's cost cutting efforts are impressive. Estimates remain stable ahead of the upcoming third quarter 2017 earnings release.”
Other equities analysts also recently issued research reports about the stock. Wedbush set a $16.00 price target on shares of Twitter and gave the company a “hold” rating in a research note on Monday. MKM Partners reaffirmed a “neutral” rating and set a $18.00 price target (up previously from $16.00) on shares of Twitter in a research note on Thursday, August 10th. Canaccord Genuity reaffirmed a “hold” rating and set a $15.00 price target on shares of Twitter in a research note on Friday. BidaskClub downgraded shares of Twitter from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Cowen and Company reaffirmed an “underperform” rating and set a $14.00 price target (up previously from $12.00) on shares of Twitter in a research note on Friday, July 28th. Fifteen investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Twitter currently has a consensus rating of “Hold” and a consensus price target of $15.44.
Twitter (NYSE TWTR) traded down 0.6649% during mid-day trading on Tuesday, hitting $17.2545. The company had a trading volume of 7,479,551 shares. The firm’s market cap is $12.65 billion. The stock’s 50 day moving average price is $17.63 and its 200 day moving average price is $17.40. Twitter has a 52-week low of $14.12 and a 52-week high of $20.88.
Twitter (NYSE:TWTR) last announced its earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, topping the Zacks’ 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 net margin of 18.25% and a negative return on equity of 2.91%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 EPS. On average, equities research analysts predict that Twitter will post $0.33 EPS for the current fiscal year.
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In other news, Director Evan Clark Williams sold 9,173 shares of the firm’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $16.91, for a total transaction of $155,115.43. Following the completion of the sale, the director now directly owns 2,692,230 shares of the company’s stock, valued at approximately $45,525,609.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert Kaiden sold 4,725 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $16.06, for a total value of $75,883.50. The disclosure for this sale can be found here. Insiders sold 1,759,445 shares of company stock valued at $30,631,777 in the last ninety days. Company insiders own 9.18% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in TWTR. Mackay Shields purchased a new stake in shares of Twitter in the fourth quarter valued at $15,077,000. Vanguard Group Inc. raised its holdings in shares of Twitter by 36.5% during the second quarter. Vanguard Group Inc. now owns 33,938,829 shares of the social networking company’s stock worth $573,906,000 after acquiring an additional 9,067,613 shares in the last quarter. Verde Servico Internacionais purchased a new stake in shares of Twitter during the fourth quarter worth $626,070,000. Clearbridge Investments LLC raised its holdings in shares of Twitter by 88.9% during the fourth quarter. Clearbridge Investments LLC now owns 14,380,330 shares of the social networking company’s stock worth $332,761,000 after acquiring an additional 6,768,297 shares in the last quarter. Finally, Amerigo Asset Management purchased a new stake in shares of Twitter during the third quarter worth $100,874,000. Institutional investors own 49.42% 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.
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