Twitter (TWTR) Upgraded to “Buy” by Zacks Investment Research
Twitter (NYSE:TWTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $28.00 price objective on the social networking company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.19% from the company’s current price.
According to Zacks, “Twitter shares have outperformed the industry in the past one year. The platform is attracting users due to its openness, real-time content, conversational format and distribution ability. The company is focusing on boosting user growth rate and engagement levels by taking various measures like making tweeting easier for people and more expressive. Twitter has been benefiting from rising number of increasing mobile users and strategic acquisitions. Moreover, aggressive cost cutting will help Twitter achieve long term EBITDA target. We believe Twitter’s much awaited turnaround likely to be driven by its focus on live video streaming which, in turn, will bring more ad dollars. Estimates have been going up ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters.”
A number of other research firms also recently commented on TWTR. Jefferies Group reissued a “hold” rating and issued a $22.00 target price on shares of Twitter in a report on Monday. Vetr downgraded Twitter from a “strong-buy” rating to a “buy” rating and set a $26.90 target price for the company. in a report on Wednesday, January 3rd. BTIG Research raised their target price on Twitter from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Pivotal Research reissued a “hold” rating and issued a $21.00 target price on shares of Twitter in a report on Wednesday. Finally, JPMorgan Chase & Co. raised Twitter from a “neutral” rating to an “overweight” rating and raised their target price for the company from $20.00 to $27.00 in a report on Monday, December 18th. Twelve investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.90.
Twitter (NYSE:TWTR) last issued its quarterly earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $590.00 million during the quarter, compared to the consensus estimate of $586.22 million. During the same period last year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. research analysts expect that Twitter will post 0.02 EPS for the current year.
In other Twitter news, General Counsel Vijaya Gadde sold 15,000 shares of Twitter stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $18.19, for a total value of $272,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Kaiden sold 5,926 shares of Twitter stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $19.51, for a total value of $115,616.26. The disclosure for this sale can be found here. Insiders sold a total of 5,317,365 shares of company stock valued at $113,170,704 in the last 90 days. 9.18% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Twitter by 6.2% in the 2nd quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock valued at $872,704,000 after purchasing an additional 2,838,459 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Twitter by 78.3% in the 2nd quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock valued at $149,215,000 after purchasing an additional 3,667,233 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of 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 purchasing an additional 385,181 shares in the last quarter. Amerigo Asset Management lifted 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. Finally, Contrarius Investment Management Ltd lifted its stake in shares of Twitter by 1.3% in the 3rd quarter. Contrarius Investment Management Ltd now owns 5,624,420 shares of the social networking company’s stock valued at $94,884,000 after purchasing an additional 71,372 shares in the last quarter. 50.69% of the stock is currently owned by institutional investors and hedge funds.
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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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