Twitter (NYSE:TWTR) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Twitter (NYSE:TWTR) from a strong-buy rating to a hold rating in a report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $49.00 price objective on the social networking company’s stock.

According to Zacks, “Twitter reported impressive second-quarter 2019 results. The company’s initiatives to add new features and focus on effectively tackling abuse issues helped it expand monetized user base. Initiatives like detection of rule violations, including hateful content on the basis of religion, resulted in an 18% drop in reports of spammy or suspicious behavior across all Tweet detail pages. Moreover, strong demand for video ad products like Video Website Cards and in-stream pre-roll is a positive. The company is also expected to benefit from an expanding live-streaming content portfolio, owing to partnerships with the likes of Viacom, Live Nation, the NFL, ESPN, Bleacher Report, MLS, Activision Blizzard, The Wall Street Journal and TIME. Notably, shares have outperformed the industry on a year-to-date basis.”

Several other equities research analysts have also commented on the stock. Wedbush reiterated a neutral rating and set a $42.00 price target on shares of Twitter in a research note on Monday. BMO Capital Markets lifted their price target on shares of Twitter from $40.00 to $42.00 and gave the stock a market perform rating in a research note on Wednesday, April 24th. Consumer Edge began coverage on shares of Twitter in a research note on Friday, May 17th. They set an equal weight rating and a $38.30 price target on the stock. Mizuho set a $35.00 price target on shares of Twitter and gave the stock a sell rating in a research note on Friday, July 26th. Finally, Oppenheimer lifted their price target on shares of Twitter from $33.00 to $44.00 and gave the stock an outperform rating in a research note on Wednesday, April 24th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $40.82.

Shares of TWTR traded up $0.77 during midday trading on Thursday, reaching $42.85. The stock had a trading volume of 20,286,120 shares, compared to its average volume of 16,353,547. Twitter has a 1-year low of $26.19 and a 1-year high of $43.48. The business has a fifty day moving average price of $37.36. The firm has a market capitalization of $31.51 billion, a P/E ratio of 77.91, a price-to-earnings-growth ratio of 2.62 and a beta of 0.57. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.47 and a current ratio of 4.33.

Twitter (NYSE:TWTR) last announced its quarterly earnings results on Friday, July 26th. The social networking company reported $0.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.03. Twitter had a net margin of 71.46% and a return on equity of 7.93%. The firm had revenue of $841.40 million for the quarter, compared to analyst estimates of $828.07 million. During the same period last year, the business earned $0.17 EPS. Twitter’s revenue for the quarter was up 18.4% compared to the same quarter last year. Research analysts expect that Twitter will post 1.87 earnings per share for the current year.

In other news, Director David S. Rosenblatt sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $40.04, for a total value of $1,601,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Matthew Derella sold 10,793 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $35.31, for a total transaction of $381,100.83. The disclosure for this sale can be found here. Insiders sold 125,882 shares of company stock worth $4,853,368 in the last ninety days. Insiders own 2.65% of the company’s stock.

Large investors have recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Twitter by 282.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 128,524 shares of the social networking company’s stock worth $4,486,000 after purchasing an additional 94,937 shares during the last quarter. Jupiter Wealth Management LLC increased its position in Twitter by 33.3% during the second quarter. Jupiter Wealth Management LLC now owns 12,000 shares of the social networking company’s stock worth $452,000 after purchasing an additional 3,000 shares during the last quarter. Employers Holdings Inc. acquired a new position in Twitter during the second quarter worth approximately $112,000. Swiss National Bank increased its position in Twitter by 3.9% during the second quarter. Swiss National Bank now owns 2,375,000 shares of the social networking company’s stock worth $82,888,000 after purchasing an additional 88,100 shares during the last quarter. Finally, Comerica Bank increased its position in Twitter by 2.5% during the second quarter. Comerica Bank now owns 156,382 shares of the social networking company’s stock worth $5,896,000 after purchasing an additional 3,794 shares during the last quarter. 67.18% of the stock is owned by institutional investors and hedge funds.

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, a platform 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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