Argus Upgrades Twitter, Inc. (TWTR) to Buy
Twitter, Inc. (NYSE:TWTR) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat reports. The firm presently has a $25.00 price objective on the social networking company’s stock, up from their previous price objective of $19.71. Argus’ price objective would indicate a potential upside of 25.63% from the company’s previous close.
A number of other equities research analysts also recently issued reports on the stock. Canaccord Genuity lifted their price target on shares of Twitter from $15.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, October 27th. J P Morgan Chase & Co lifted their price target on shares of Twitter from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, October 30th. Vetr upgraded shares of Twitter from a “hold” rating to a “buy” rating and set a $22.96 price target for the company in a research report on Monday, October 30th. Zacks Investment Research upgraded shares of Twitter from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a research report on Tuesday, October 31st. Finally, Robert W. Baird lifted their price target on shares of Twitter to $20.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Thirteen analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.44.
Shares of Twitter (NYSE TWTR) traded up $0.19 on Friday, reaching $19.90. The company’s stock had a trading volume of 22,228,887 shares, compared to its average volume of 23,289,780. Twitter has a 12 month low of $14.12 and a 12 month high of $21.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 9.79 and a current ratio of 10.40.
Twitter (NYSE:TWTR) last announced its quarterly earnings data on Thursday, October 26th. 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 return on equity of 1.21% and a negative net margin of 15.08%. The company had revenue of $590.00 million for the quarter, compared to analyst estimates of $586.22 million. During the same quarter in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. analysts expect that Twitter will post 0.02 EPS for the current year.
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In other news, Director Evan Clark Williams sold 273,300 shares of the company’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $16.16, for a total value of $4,416,528.00. Following the sale, the director now owns 2,710,576 shares in the company, valued at approximately $43,802,908.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Vijaya Gadde sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $16.07, for a total transaction of $241,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,753,819 shares of company stock worth $72,690,993. Company insiders own 10.79% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Sterling Investment Advisors Ltd. raised its stake in shares of Twitter by 37.4% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 22,062 shares of the social networking company’s stock valued at $372,000 after purchasing an additional 6,000 shares in the last quarter. Global X MANAGEMENT CO LLC raised its stake in shares of Twitter by 16.3% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 835,541 shares of the social networking company’s stock valued at $14,096,000 after purchasing an additional 116,985 shares in the last quarter. Amerigo Asset Management raised its stake in shares of Twitter by 46.2% in the 3rd quarter. Amerigo Asset Management now owns 6,875,910 shares of the social networking company’s stock valued at $115,997,000 after purchasing an additional 2,172,000 shares in the last quarter. Swiss National Bank raised its stake in shares of Twitter by 1.6% in the 3rd quarter. Swiss National Bank now owns 2,286,000 shares of the social networking company’s stock valued at $38,565,000 after purchasing an additional 34,900 shares in the last quarter. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of Twitter in the 3rd quarter valued at about $217,000. Institutional investors and hedge funds own 49.50% 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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