J P Morgan Chase & Co Upgrades Twitter (TWTR) to “Overweight”

Twitter (NYSE:TWTR) was upgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday. The firm presently has a $27.00 price target on the social networking company’s stock, up from their prior price target of $20.00. J P Morgan Chase & Co’s price objective suggests a potential upside of 7.66% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Goldman Sachs Group set a $26.00 price objective on Twitter and gave the company a “buy” rating in a report on Friday, October 27th. Vetr downgraded Twitter from a “strong-buy” rating to a “buy” rating and set a $19.82 price objective for the company. in a report on Wednesday, October 4th. Susquehanna Bancshares increased their price objective on Twitter from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, October 26th. Morgan Stanley reissued an “underweight” rating and issued a $10.00 price objective on shares of Twitter in a report on Monday, October 2nd. Finally, Robert W. Baird reissued a “hold” rating and issued a $17.00 price objective on shares of Twitter in a report on Friday, September 1st. Twelve equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.39.

Twitter (TWTR) opened at $25.08 on Monday. 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 has a fifty-two week low of $14.12 and a fifty-two week high of $25.49.

Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.03. The firm had revenue of $590.00 million during 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 firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. sell-side analysts predict that Twitter will post 0.02 EPS for the current fiscal year.

In other Twitter news, insider Robert Kaiden sold 5,926 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $19.51, for a total value of $115,616.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evan Clark Williams sold 9,845 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $17.02, for a total value of $167,561.90. Following the completion of the transaction, the director now owns 2,636,518 shares of the company’s stock, valued at approximately $44,873,536.36. The disclosure for this sale can be found here. Insiders sold 5,489,977 shares of company stock valued at $112,344,409 in the last quarter. 9.18% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in TWTR. Northern Trust Corp increased its position in shares of Twitter by 78.3% in the second quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock valued at $149,215,000 after buying an additional 3,667,233 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Twitter by 6.2% in the second quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock valued at $872,704,000 after buying an additional 2,838,459 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Twitter in the second quarter valued at $43,694,000. Amerigo Asset Management increased its position in shares of 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 buying an additional 2,172,000 shares in the last quarter. Finally, Apertura Capital LLC purchased a new position in shares of Twitter in the second quarter valued at $35,740,000. Institutional investors and hedge funds own 50.69% of the company’s stock.

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About Twitter

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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