Twitter, Inc. (NYSE:TWTR) was upgraded by Citigroup Inc. from a “sell” rating to a “neutral” rating in a research note issued to investors on Monday, November 6th, Marketbeat Ratings reports. The firm currently has a $20.00 price objective on the social networking company’s stock, up from their prior price objective of $19.90. Citigroup Inc.’s price objective points to a potential downside of 3.66% from the company’s current price.
Several other analysts have also recently issued reports on the company. Argus upgraded Twitter from a “hold” rating to a “buy” rating and increased their target price for the stock from $19.71 to $25.00 in a research report on Friday, November 3rd. Zacks Investment Research upgraded Twitter from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Tuesday, October 31st. Vetr upgraded Twitter from a “hold” rating to a “buy” rating and set a $22.96 price target for the company in a report on Monday, October 30th. J P Morgan Chase & Co raised their price target on Twitter from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Finally, Canaccord Genuity raised their price target on Twitter from $15.00 to $19.00 and gave the company a “hold” rating in a report on Friday, October 27th. Twelve research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $17.67.
Shares of Twitter (TWTR) opened at $20.76 on Monday. The company has a quick ratio of 10.40, a current ratio of 10.40 and a debt-to-equity ratio of 0.35. Twitter has a 1 year low of $14.12 and a 1 year high of $21.96.
Twitter (NYSE:TWTR) last released its earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share (EPS) for the quarter, topping the 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 analysts’ expectations of $586.22 million. During the same quarter last year, the business posted $0.09 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. research analysts anticipate that Twitter will post 0.02 EPS for the current fiscal year.
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In related news, CAO Robert Kaiden sold 6,574 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $20.59, for a total transaction of $135,358.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Evan Clark Williams sold 9,173 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were 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 owns 2,692,230 shares of the company’s stock, valued at approximately $45,525,609.30. The disclosure for this sale can be found here. Insiders sold 4,171,445 shares of company stock valued at $82,183,431 over the last quarter. 10.79% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Cetera Advisors LLC acquired a new position in shares of Twitter during the 3rd quarter valued at $250,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Twitter by 2.6% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 171,279 shares of the social networking company’s stock worth $2,890,000 after buying an additional 4,364 shares in the last quarter. Balentine LLC lifted its holdings in Twitter by 86.6% in the 3rd quarter. Balentine LLC now owns 6,822 shares of the social networking company’s stock worth $115,000 after buying an additional 3,167 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in Twitter by 522.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 90,002 shares of the social networking company’s stock worth $1,518,000 after buying an additional 75,536 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Twitter by 67.2% in the 3rd quarter. Janus Henderson Group PLC now owns 146,844 shares of the social networking company’s stock worth $2,478,000 after buying an additional 59,014 shares in the last quarter. 49.71% of the stock is owned by hedge funds and other institutional investors.
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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