Brokerages expect Twitter Inc (NYSE:TWTR) to announce $703.72 million in sales for the current fiscal quarter, Zacks Investment Research reports. Thirteen analysts have issued estimates for Twitter’s earnings. The highest sales estimate is $715.00 million and the lowest is $675.00 million. Twitter posted sales of $589.63 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 19.3%. The business is expected to announce its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Twitter will report full year sales of $2.92 billion for the current fiscal year, with estimates ranging from $2.83 billion to $2.97 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.33 billion per share, with estimates ranging from $3.14 billion to $3.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Twitter.

Twitter (NYSE:TWTR) last announced its quarterly earnings results on Friday, July 27th. The social networking company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Twitter had a return on equity of 4.37% and a net margin of 8.57%. The business had revenue of $710.54 million during the quarter, compared to the consensus estimate of $697.35 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. Twitter’s revenue was up 23.8% compared to the same quarter last year.

Several equities research analysts recently issued reports on the company. Macquarie downgraded Twitter from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $36.00 to $42.00 in a report on Wednesday, July 18th. They noted that the move was a valuation call. Wedbush reiterated a “hold” rating and set a $37.00 price target (up previously from $29.00) on shares of Twitter in a report on Friday, July 27th. Morgan Stanley upped their price target on Twitter from $31.00 to $34.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 11th. Zacks Investment Research downgraded Twitter from a “strong-buy” rating to a “hold” rating in a report on Saturday, June 30th. Finally, Cleveland Research set a $46.00 price target on Twitter and gave the stock a “hold” rating in a report on Tuesday, July 10th. Three research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.13.

In other news, Director Evan Clark Williams sold 682,242 shares of the company’s stock in a transaction on Tuesday, June 26th. The stock was sold at an average price of $44.51, for a total transaction of $30,366,591.42. Following the transaction, the director now owns 1,838,600 shares of the company’s stock, valued at approximately $81,836,086. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Kaiden sold 3,718 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $31.47, for a total value of $117,005.46. The disclosure for this sale can be found here. Insiders sold a total of 3,453,412 shares of company stock valued at $137,731,463 in the last 90 days. Corporate insiders own 6.62% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of TWTR. Fortis Advisors LLC purchased a new position in shares of Twitter during the 1st quarter valued at $103,000. Centaurus Financial Inc. purchased a new position in shares of Twitter during the 1st quarter valued at $104,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Twitter during the 2nd quarter valued at $112,000. Kiley Juergens Wealth Management LLC purchased a new position in shares of Twitter during the 2nd quarter valued at $113,000. Finally, Castleark Management LLC purchased a new position in shares of Twitter during the 2nd quarter valued at $121,000. 64.51% of the stock is currently owned by hedge funds and other institutional investors.

Twitter stock traded down $1.14 during trading on Friday, hitting $29.75. 29,810,300 shares of the company were exchanged, compared to its average volume of 30,224,527. Twitter has a 52 week low of $16.57 and a 52 week high of $47.79. The company has a market capitalization of $23.11 billion, a P/E ratio of 496.33, a price-to-earnings-growth ratio of 3.92 and a beta of 0.72. The company has a current ratio of 11.00, a quick ratio of 11.00 and a debt-to-equity ratio of 0.47.

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.

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