Twitter (TWTR) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Twitter (NYSE:TWTR) from an underperform rating to a buy rating in a research report sent to investors on Thursday, MarketBeat.com reports. They currently have $39.00 price objective on the social networking company’s stock.

Several other equities research analysts have also issued reports on the company. Moffett Nathanson dropped their price target on Twitter from $23.00 to $21.00 and set a sell rating for the company in a research note on Monday, September 17th. Pivotal Research raised Twitter from a sell rating to a hold rating and dropped their price target for the stock from $26.00 to $24.00 in a research note on Friday, October 12th. Wedbush reaffirmed a hold rating and set a $37.00 price target on shares of Twitter in a research note on Tuesday, October 23rd. Deutsche Bank dropped their price target on Twitter from $33.00 to $29.00 and set a neutral rating for the company in a research note on Tuesday, October 23rd. Finally, UBS Group raised Twitter from a market perform rating to an outperform rating in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Twitter has an average rating of Hold and an average target price of $35.60.

Twitter stock traded down $0.22 during midday trading on Thursday, hitting $32.87. 17,708,911 shares of the company’s stock were exchanged, compared to its average volume of 19,889,744. Twitter has a 52-week low of $22.04 and a 52-week high of $47.79. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.27. The stock has a market cap of $24.55 billion, a price-to-earnings ratio of 547.83, a PEG ratio of 2.91 and a beta of 0.24.

Twitter (NYSE:TWTR) last posted its earnings results on Thursday, October 25th. The social networking company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.17. Twitter had a return on equity of 6.75% and a net margin of 36.35%. The business had revenue of $758.11 million during the quarter, compared to analysts’ expectations of $703.57 million. On average, research analysts anticipate that Twitter will post 0.46 earnings per share for the current year.

In other Twitter news, CFO Ned D. Segal sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $34.39, for a total transaction of $206,340.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Evan Clark Williams sold 24,643 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $27.81, for a total value of $685,321.83. Following the transaction, the director now owns 1,244,108 shares in the company, valued at approximately $34,598,643.48. The disclosure for this sale can be found here. Insiders have sold a total of 7,086,486 shares of company stock valued at $224,660,057 in the last ninety days. 6.62% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the business. Rehmann Capital Advisory Group grew its stake in shares of Twitter by 50.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,834 shares of the social networking company’s stock worth $52,000 after buying an additional 613 shares during the last quarter. Castleark Management LLC purchased a new stake in Twitter during the 2nd quarter valued at $121,000. Paradigm Asset Management Co. LLC purchased a new stake in Twitter during the 3rd quarter valued at $91,000. Focused Wealth Management Inc boosted its stake in Twitter by 144.3% during the 2nd quarter. Focused Wealth Management Inc now owns 3,217 shares of the social networking company’s stock valued at $140,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Exane Derivatives boosted its stake in Twitter by 303.0% during the 3rd quarter. Exane Derivatives now owns 3,663 shares of the social networking company’s stock valued at $104,000 after purchasing an additional 2,754 shares during the last quarter. Hedge funds and other institutional investors own 64.16% of the company’s stock.

Twitter Company Profile

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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Analyst Recommendations for Twitter (NYSE:TWTR)

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