Twitter Inc. (NYSE:TWTR) was downgraded by investment analysts at RBC Capital Markets from a “sector perform” rating to an “underperform” rating in a research report issued to clients and investors on Thursday. They presently have a $14.00 target price on the social networking company’s stock, down from their prior target price of $17.00. RBC Capital Markets’ price objective would indicate a potential downside of 38.11% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other equities research analysts have also recently weighed in on the stock. Cantor Fitzgerald restated a “hold” rating and issued a $18.00 price objective on shares of Twitter in a research report on Wednesday, September 14th. Vetr upgraded shares of Twitter from a “buy” rating to a “strong-buy” rating and set a $21.96 price objective for the company in a research report on Monday, September 12th. MKM Partners set a $18.50 price objective on shares of Twitter and gave the company a “hold” rating in a research report on Sunday, September 4th. SunTrust Banks Inc. restated a “neutral” rating on shares of Twitter in a research report on Sunday, September 4th. Finally, Axiom Securities restated a “hold” rating on shares of Twitter in a research report on Monday, August 22nd. Ten equities research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $19.56.
Shares of Twitter (NYSE:TWTR) opened at 22.62 on Thursday. Twitter has a 1-year low of $13.73 and a 1-year high of $31.87. The firm’s market capitalization is $15.84 billion. The company’s 50-day moving average is $18.99 and its 200 day moving average is $16.94.
Twitter (NYSE:TWTR) last announced its quarterly earnings results on Tuesday, July 26th. The social networking company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.03. Twitter had a negative net margin of 16.51% and a negative return on equity of 6.01%. The firm earned $602 million during the quarter, compared to the consensus estimate of $606.37 million. During the same period last year, the firm posted $0.07 EPS. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. On average, analysts expect that Twitter will post $0.51 EPS for the current fiscal year.
In other news, insider Adam Messinger sold 52,914 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $16.76, for a total transaction of $886,838.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Kaiden sold 3,604 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $20.06, for a total transaction of $72,296.24. The disclosure for this sale can be found here. Insiders own 10.79% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Botty Investors LLC increased its stake in shares of Twitter by 2.3% in the first quarter. Botty Investors LLC now owns 53,211 shares of the social networking company’s stock valued at $881,000 after buying an additional 1,198 shares during the period. Peapack Gladstone Financial Corp acquired a new stake in Twitter during the first quarter valued at about $169,000. BlackRock Japan Co. Ltd increased its stake in Twitter by 1.1% in the first quarter. BlackRock Japan Co. Ltd now owns 735,230 shares of the social networking company’s stock valued at $12,168,000 after buying an additional 7,709 shares during the last quarter. Wrapmanager Inc. increased its stake in Twitter by 97.3% in the first quarter. Wrapmanager Inc. now owns 32,607 shares of the social networking company’s stock valued at $540,000 after buying an additional 16,081 shares during the last quarter. Finally, Ngam Advisors L.P. increased its stake in Twitter by 106.8% in the first quarter. Ngam Advisors L.P. now owns 266,730 shares of the social networking company’s stock valued at $4,414,000 after buying an additional 137,743 shares during the last quarter. 41.87% of the stock is owned by institutional investors.
Twitter Company Profile
Twitter, Inc (Twitter) offers products and services for users, advertisers, developers and platform and data partners. The Company’s service is live-live commentary, live connections, live conversations. Its products and services for users include Twitter, and Periscope and Vine. Its Twitter is a platform for public self-expression and conversation in real time.
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