$690.86 Million in Sales Expected for Twitter, Inc. (TWTR) This Quarter
Wall Street analysts expect that Twitter, Inc. (NYSE:TWTR) will post sales of $690.86 million for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Twitter’s earnings, with the highest sales estimate coming in at $703.30 million and the lowest estimate coming in at $671.00 million. Twitter posted sales of $717.21 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.7%. The company is expected to issue its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Twitter will report full-year sales of $690.86 million for the current fiscal year, with estimates ranging from $2.39 billion to $2.42 billion. For the next year, analysts anticipate that the business will post sales of $2.56 billion per share, with estimates ranging from $2.39 billion to $2.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Twitter.
Twitter (NYSE:TWTR) last announced its earnings results on Thursday, October 26th. The social networking company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. Twitter had a negative net margin of 15.08% and a negative return on equity of 1.22%. The business had revenue of $590.00 million during the quarter, compared to the consensus estimate of $586.22 million. During the same period in the previous year, the company posted $0.09 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis.
Several research analysts have commented on the company. Vetr lowered Twitter from a “strong-buy” rating to a “buy” rating and set a $19.82 price target on the stock. in a research report on Wednesday, October 4th. Morgan Stanley reaffirmed an “underweight” rating and set a $10.00 price target on shares of Twitter in a research report on Monday, October 2nd. Robert W. Baird reaffirmed a “hold” rating and set a $17.00 price target on shares of Twitter in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $20.00 price target on shares of Twitter in a research report on Sunday, July 30th. Finally, Susquehanna Bancshares Inc lifted their price target on Twitter from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Thirteen investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $16.93.
In related news, insider Robert Kaiden sold 7,775 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $16.28, for a total transaction of $126,577.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Vijaya Gadde sold 15,000 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. The disclosure for this sale can be found here. Insiders sold 1,754,720 shares of company stock valued at $30,555,893 in the last 90 days. Corporate insiders own 9.18% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Toronto Dominion Bank raised its holdings in shares of Twitter by 21.3% during the second quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock worth $136,000 after acquiring an additional 1,333 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Twitter by 112.3% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 8,781 shares of the social networking company’s stock worth $157,000 after acquiring an additional 4,645 shares in the last quarter. Federated Investors Inc. PA purchased a new stake in shares of Twitter during the second quarter worth $174,000. Berkshire Asset Management LLC PA purchased a new stake in shares of Twitter during the third quarter worth $184,000. Finally, NEXT Financial Group Inc raised its holdings in shares of Twitter by 6.3% during the second quarter. NEXT Financial Group Inc now owns 11,030 shares of the social networking company’s stock worth $197,000 after acquiring an additional 650 shares in the last quarter. Institutional investors and hedge funds own 49.50% of the company’s stock.
Shares of Twitter (TWTR) opened at 21.25 on Tuesday. Twitter has a 52 week low of $14.12 and a 52 week high of $21.96. The stock’s 50 day moving average price is $17.96 and its 200-day moving average price is $17.59. The stock’s market cap is $15.58 billion.
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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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