Twitter Inc. (TWTR) Given Neutral Rating at SunTrust Banks Inc.
SunTrust Banks Inc. restated their neutral rating on shares of Twitter Inc. (NYSE:TWTR) in a report issued on Wednesday morning. The firm currently has a $18.00 price objective on the social networking company’s stock.
Several other equities analysts have also recently issued reports on TWTR. Deutsche Bank AG reaffirmed a buy rating on shares of Twitter in a research report on Sunday, July 10th. MKM Partners set a $18.50 price objective on Twitter and gave the company a hold rating in a research report on Sunday, September 4th. Pacific Crest reaffirmed a hold rating on shares of Twitter in a research report on Wednesday, July 27th. Cantor Fitzgerald cut Twitter from a buy rating to a hold rating in a research report on Wednesday, July 27th. Finally, Argus reaffirmed a hold rating on shares of Twitter in a research report on Thursday, July 28th. Fourteen analysts have rated the stock with a sell rating, twenty-five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $19.63.
Shares of Twitter (NYSE:TWTR) traded down 20.5569% on Wednesday, reaching $19.7575. The company’s stock had a trading volume of 75,618,235 shares. The company’s 50 day moving average price is $19.95 and its 200 day moving average price is $17.31. The company’s market cap is $13.83 billion. Twitter has a 12-month low of $13.73 and a 12-month high of $31.87.
Twitter (NYSE:TWTR) last posted its earnings results on Tuesday, July 26th. The social networking company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Twitter had a negative return on equity of 6.01% and a negative net margin of 16.51%. The firm had revenue of $602 million for the quarter, compared to the consensus estimate of $606.37 million. During the same quarter in the prior year, the business earned $0.07 EPS. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. Analysts forecast that Twitter will post $0.51 EPS for the current fiscal year.
In other Twitter news, CAO Robert Kaiden sold 12,990 shares of Twitter stock in a transaction on Monday, August 1st. The shares were sold at an average price of $16.76, for a total value of $217,712.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adam Messinger sold 52,914 shares of Twitter stock in a transaction on Monday, August 1st. The stock was sold at an average price of $16.76, for a total transaction of $886,838.64. The disclosure for this sale can be found here. Corporate insiders own 10.79% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Twitter by 36.5% in the second quarter. Vanguard Group Inc. now owns 33,938,829 shares of the social networking company’s stock valued at $573,906,000 after buying an additional 9,067,613 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Twitter by 307.2% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,886,736 shares of the social networking company’s stock valued at $48,815,000 after buying an additional 2,177,825 shares in the last quarter. Quantitative Investment Management LLC purchased a new position in Twitter during the second quarter valued at about $22,334,000. Contrarius Investment Management Ltd raised its position in Twitter by 25.6% in the second quarter. Contrarius Investment Management Ltd now owns 4,147,508 shares of the social networking company’s stock valued at $70,134,000 after buying an additional 844,273 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Twitter during the first quarter valued at about $13,056,000. 41.87% of the stock is currently owned by institutional investors and hedge funds.
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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