Twitter (NYSE:TWTR) Price Target Raised to $50.00

Twitter (NYSE:TWTRGet Rating) had its price target lifted by investment analysts at Citigroup from $41.00 to $50.00 in a research note issued on Wednesday, April 20th, MarketBeat Ratings reports. The firm presently has a “neutral” rating on the social networking company’s stock. Citigroup’s target price indicates a potential upside of 1.92% from the company’s current price.

Several other equities research analysts have also commented on TWTR. Truist Financial lowered their price objective on Twitter from $60.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, January 26th. Cowen lowered their price objective on Twitter from $67.00 to $50.00 in a research report on Thursday, January 13th. Susquehanna decreased their target price on Twitter from $85.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 11th. Rosenblatt Securities assumed coverage on Twitter in a research report on Tuesday, April 19th. They set a “neutral” rating and a $48.00 target price on the stock. Finally, StockNews.com initiated coverage on Twitter in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.83.

NYSE:TWTR traded up $0.19 during mid-day trading on Wednesday, reaching $49.06. The company’s stock had a trading volume of 28,387,837 shares, compared to its average volume of 41,624,750. Twitter has a 1 year low of $31.30 and a 1 year high of $73.34. The stock has a fifty day moving average of $41.40 and a 200-day moving average of $43.41. The firm has a market capitalization of $37.46 billion, a PE ratio of 213.40 and a beta of 0.56. The company has a quick ratio of 5.89, a current ratio of 6.58 and a debt-to-equity ratio of 0.89.

Twitter (NYSE:TWTRGet Rating) last announced its earnings results on Thursday, April 28th. The social networking company reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.87. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.23 billion. Twitter had a net margin of 4.27% and a return on equity of 3.77%. The firm’s revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. On average, analysts expect that Twitter will post 0.02 earnings per share for the current year.

Twitter announced that its board has authorized a share buyback plan on Thursday, February 10th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the social networking company to repurchase up to 14% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In other Twitter news, CFO Ned D. Segal sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $32.27, for a total transaction of $161,350.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 15,000 shares of company stock worth $573,800. Company insiders own 2.70% of the company’s stock.

Several large investors have recently modified their holdings of TWTR. Mizuho Securities Co. Ltd. increased its stake in Twitter by 750.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 748 shares of the social networking company’s stock valued at $29,000 after purchasing an additional 660 shares during the last quarter. Amplius Wealth Advisors LLC acquired a new position in Twitter in the fourth quarter valued at $31,000. Glassman Wealth Services increased its stake in Twitter by 47.1% in the first quarter. Glassman Wealth Services now owns 803 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 257 shares during the last quarter. Bourgeon Capital Management LLC acquired a new position in Twitter in the first quarter valued at $35,000. Finally, Allworth Financial LP increased its stake in Twitter by 178.8% in the third quarter. Allworth Financial LP now owns 683 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 438 shares during the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.

About Twitter (Get Rating)

Twitter, Inc operates as a platform for public self-expression and conversation in real-time. The company offers Twitter, a platform that allows users to consume, create, distribute, and discover content. It also provides promoted products and services, such as promoted ads and Twitter amplify, follower ads, and Twitter takeover; Tips to directly send small one-time payments on Twitter using various payment methods, including bitcoin; Super Follows, a paid monthly subscription, which includes bonus content, exclusive previews, and perks as a way to support and connect with creators on Twitter; and Ticketed Spaces to support creators on Twitter for their time and effort in hosting, speaking, and moderating the public conversation on Twitter Spaces.

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