Bank of America Boosts Twitter (NYSE:TWTR) Price Target to $26.00

Twitter (NYSE:TWTR) had its price target lifted by equities researchers at Bank of America from $20.00 to $26.00 in a research report issued to clients and investors on Friday, February 9th. The brokerage presently has an “underperform” rating on the social networking company’s stock. Bank of America’s target price suggests a potential downside of 21.36% from the stock’s current price.

A number of other research analysts also recently weighed in on TWTR. SunTrust Banks reaffirmed a “hold” rating and issued a $16.00 target price on shares of Twitter in a research report on Thursday, October 12th. BidaskClub raised shares of Twitter from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Canaccord Genuity reaffirmed a “hold” rating and set a $15.00 target price on shares of Twitter in a report on Friday, October 20th. Wedbush set a $16.00 target price on shares of Twitter and gave the stock a “hold” rating in a report on Monday, October 23rd. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $16.00 price objective on shares of Twitter in a research note on Monday, October 23rd. Eight investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and seven have assigned a buy rating to the stock. Twitter has a consensus rating of “Hold” and a consensus price target of $23.46.

Shares of Twitter (NYSE TWTR) traded down $0.55 during trading on Friday, reaching $33.06. 27,900,900 shares of the company’s stock traded hands, compared to its average volume of 34,656,359. Twitter has a 1 year low of $14.12 and a 1 year high of $35.00. The company has a market capitalization of $24,560.00, a PE ratio of -220.40, a price-to-earnings-growth ratio of 9.96 and a beta of 1.14. The company has a debt-to-equity ratio of 0.35, a current ratio of 10.40 and a quick ratio of 10.40.

Twitter (NYSE:TWTR) last posted its earnings results on Thursday, February 8th. The social networking company reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.05. Twitter had a negative net margin of 4.42% and a positive return on equity of 0.79%. The company had revenue of $731.60 million for the quarter, compared to analyst estimates of $686.12 million. During the same period last year, the business posted $0.11 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. equities analysts expect that Twitter will post 0.15 EPS for the current fiscal year.

In other Twitter news, Director Evan Clark Williams sold 1,982,985 shares of Twitter stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $21.12, for a total transaction of $41,880,643.20. Following the transaction, the director now directly owns 2,401,747 shares of the company’s stock, valued at $50,724,896.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Kaiden sold 3,930 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $20.62, for a total transaction of $81,036.60. The disclosure for this sale can be found here. Insiders sold 2,660,011 shares of company stock worth $58,164,211 over the last ninety days. 9.18% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Coatue Management LLC boosted its holdings in Twitter by 209.9% in the fourth quarter. Coatue Management LLC now owns 24,354,222 shares of the social networking company’s stock valued at $584,745,000 after acquiring an additional 16,496,725 shares in the last quarter. First Trust Advisors LP boosted its holdings in Twitter by 5.3% in the third quarter. First Trust Advisors LP now owns 7,633,764 shares of the social networking company’s stock valued at $128,782,000 after acquiring an additional 385,181 shares in the last quarter. Amerigo Asset Management boosted its holdings in Twitter by 46.2% in the third quarter. Amerigo Asset Management now owns 6,875,910 shares of the social networking company’s stock valued at $115,997,000 after acquiring an additional 2,172,000 shares in the last quarter. Contrarius Investment Management Ltd boosted its holdings in Twitter by 1.3% in the third quarter. Contrarius Investment Management Ltd now owns 5,624,420 shares of the social networking company’s stock valued at $94,884,000 after acquiring an additional 71,372 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Twitter by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,984,462 shares of the social networking company’s stock valued at $119,602,000 after acquiring an additional 121,702 shares in the last quarter. Institutional investors and hedge funds own 52.08% of the company’s stock.

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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.

Analyst Recommendations for Twitter (NYSE:TWTR)

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