Zacks Investment Research Upgrades Twitter (TWTR) to Buy

Twitter (NYSE:TWTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage presently has a $28.00 price objective on the social networking company’s stock. Zacks Investment Research‘s target price points to a potential upside of 14.99% from the company’s previous close.

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.”

Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded Twitter from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Vetr downgraded Twitter from a “strong-buy” rating to a “buy” rating and set a $19.82 price objective on the stock. in a report on Wednesday, October 4th. Goldman Sachs Group set a $26.00 target price on Twitter and gave the stock a “buy” rating in a research note on Friday, October 27th. Argus raised Twitter from a “hold” rating to a “buy” rating and boosted their target price for the stock from $19.71 to $25.00 in a research note on Friday, November 3rd. Finally, Summit Redstone initiated coverage on Twitter in a research note on Monday, December 18th. They set a “buy” rating and a $26.00 target price for the company. Twelve analysts have rated the stock with a sell rating, twenty have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Twitter presently has an average rating of “Hold” and an average price target of $18.90.

Twitter (NYSE TWTR) traded up $0.10 during mid-day trading on Friday, hitting $24.35. The company had a trading volume of 11,670,300 shares, compared to its average volume of 14,155,200. The company has a debt-to-equity ratio of 0.35, a current ratio of 10.40 and a quick ratio of 10.40. The stock has a market cap of $18,800.00, a P/E ratio of -47.75, a PEG ratio of 11.70 and a beta of 1.11. Twitter has a 52-week low of $14.12 and a 52-week high of $25.56.

Twitter (NYSE:TWTR) last posted its quarterly earnings data on Thursday, October 26th. The social networking company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The firm had revenue of $590.00 million for the quarter, compared to the consensus estimate of $586.22 million. Twitter had a negative return on equity of 1.21% and a negative net margin of 15.08%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.09 EPS. sell-side analysts expect that Twitter will post 0.02 EPS for the current fiscal year.

In other news, General Counsel Vijaya Gadde sold 15,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $18.19, for a total transaction of $272,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Robert Kaiden sold 6,574 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $20.59, for a total value of $135,358.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,317,365 shares of company stock valued at $113,170,704. Company insiders own 9.18% of the company’s stock.

Several hedge funds have recently modified their holdings of TWTR. Nordea Investment Management AB increased its stake in Twitter by 2.3% in the 2nd quarter. Nordea Investment Management AB now owns 19,027 shares of the social networking company’s stock valued at $340,000 after purchasing an additional 422 shares in the last quarter. Comerica Bank increased its stake in Twitter by 1.8% in the 2nd quarter. Comerica Bank now owns 27,861 shares of the social networking company’s stock valued at $557,000 after purchasing an additional 489 shares in the last quarter. D.A. Davidson & CO. increased its stake in Twitter by 0.5% in the 2nd quarter. D.A. Davidson & CO. now owns 177,086 shares of the social networking company’s stock valued at $3,164,000 after purchasing an additional 885 shares in the last quarter. Linscomb & Williams Inc. increased its stake in Twitter by 6.6% in the 2nd quarter. Linscomb & Williams Inc. now owns 19,384 shares of the social networking company’s stock valued at $346,000 after purchasing an additional 1,201 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. increased its stake in Twitter by 11.6% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 11,943 shares of the social networking company’s stock valued at $213,000 after purchasing an additional 1,243 shares in the last quarter. 50.69% of the stock is owned by institutional investors and hedge funds.

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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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