Twitter (TWTR) Upgraded to Hold by Pivotal Research

Pivotal Research upgraded shares of Twitter (NYSE:TWTR) from a sell rating to a hold rating in a research note released on Friday morning, MarketBeat reports. Pivotal Research currently has $24.00 target price on the social networking company’s stock, down from their prior target price of $26.00.

A number of other equities analysts also recently commented on the stock. Moffett Nathanson reduced their target price on shares of Twitter from $23.00 to $21.00 and set a sell rating on the stock in a research note on Monday, September 17th. Deutsche Bank lifted their target price on shares of Twitter from $32.00 to $33.00 and gave the stock a hold rating in a research note on Thursday, August 16th. Zacks Investment Research downgraded shares of Twitter from a buy rating to a hold rating in a research note on Tuesday, July 31st. Nomura raised shares of Twitter from a reduce rating to a neutral rating and reduced their target price for the stock from $31.75 to $31.00 in a research note on Tuesday, July 31st. Finally, Bank of America set a $27.00 target price on shares of Twitter and gave the stock a sell rating in a research note on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $32.72.

Shares of NYSE:TWTR traded up $0.99 during midday trading on Friday, hitting $27.99. The company’s stock had a trading volume of 27,059,890 shares, compared to its average volume of 29,355,658. The company has a current ratio of 11.00, a quick ratio of 11.00 and a debt-to-equity ratio of 0.47. The company has a market cap of $21.57 billion, a P/E ratio of 466.50, a P/E/G ratio of 3.66 and a beta of 0.75. Twitter has a 12-month low of $17.03 and a 12-month high of $47.79.

Twitter (NYSE:TWTR) last issued its earnings results on Friday, July 27th. The social networking company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Twitter had a net margin of 8.57% and a return on equity of 4.37%. The company had revenue of $710.54 million for the quarter, compared to the consensus estimate of $697.35 million. During the same period in the previous year, the firm earned $0.08 earnings per share. Twitter’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, analysts expect that Twitter will post 0.35 earnings per share for the current year.

In related news, insider Robert Kaiden sold 2,315 shares of Twitter stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $32.26, for a total value of $74,681.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ned D. Segal sold 6,000 shares of Twitter stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $30.44, for a total transaction of $182,640.00. The disclosure for this sale can be found here. Insiders sold a total of 4,143,751 shares of company stock worth $135,852,556 over the last three months. Insiders own 6.62% of the company’s stock.

Several hedge funds have recently made changes to their positions in TWTR. Berkshire Asset Management LLC PA grew its holdings in Twitter by 15.9% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 14,356 shares of the social networking company’s stock worth $409,000 after acquiring an additional 1,967 shares in the last quarter. Bank of Montreal Can grew its holdings in Twitter by 57.5% during the 3rd quarter. Bank of Montreal Can now owns 868,930 shares of the social networking company’s stock worth $24,730,000 after acquiring an additional 317,145 shares in the last quarter. DAVENPORT & Co LLC grew its holdings in Twitter by 27.3% during the 3rd quarter. DAVENPORT & Co LLC now owns 14,894 shares of the social networking company’s stock worth $424,000 after acquiring an additional 3,193 shares in the last quarter. World Asset Management Inc grew its holdings in Twitter by 7.7% during the 3rd quarter. World Asset Management Inc now owns 48,028 shares of the social networking company’s stock worth $1,367,000 after acquiring an additional 3,418 shares in the last quarter. Finally, DNB Asset Management AS grew its holdings in Twitter by 6.2% during the 3rd quarter. DNB Asset Management AS now owns 85,914 shares of the social networking company’s stock worth $2,445,000 after acquiring an additional 5,014 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

About Twitter

Twitter, Inc operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others.

See Also: Beta

Analyst Recommendations for Twitter (NYSE:TWTR)

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