Twitter, Inc. to Post Q4 2022 Earnings of $0.23 Per Share, Wedbush Forecasts (NYSE:TWTR)

Twitter, Inc. (NYSE:TWTR – Get Rating) – Equities researchers at Wedbush decreased their Q4 2022 earnings per share (EPS) estimates for shares of Twitter in a research note issued to investors on Wednesday, April 20th. Wedbush analyst Y. Arounian now anticipates that the social networking company will earn $0.23 per share for the quarter, down from their prior forecast of $0.24. Wedbush currently has a “Neutral” rating and a $42.00 target price on the stock. Wedbush also issued estimates for Twitter’s FY2023 earnings at $0.97 EPS.

Twitter (NYSE:TWTR – Get Rating) last announced its quarterly earnings data on Thursday, February 10th. The social networking company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Twitter had a negative net margin of 4.36% and a negative return on equity of 4.37%. Twitter’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the company posted $0.28 earnings per share.

Other equities research analysts also recently issued research reports about the stock. Truist Financial downgraded shares of Twitter from a “buy” rating to a “hold” rating and set a $50.00 price target on the stock. in a research note on Thursday. Morgan Stanley lifted their price target on shares of Twitter from $57.00 to $59.00 and gave the stock an “equal weight” rating in a research note on Friday, February 11th. Wells Fargo & Company decreased their price target on shares of Twitter from $70.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 15th. Citigroup lifted their price objective on Twitter from $41.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Oppenheimer cut Twitter from an “outperform” rating to a “market perform” rating in a report on Thursday, April 14th. Four analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.83.

Shares of Twitter stock opened at $48.93 on Friday. The company’s fifty day simple moving average is $39.33 and its 200-day simple moving average is $44.18. The company has a market cap of $37.36 billion, a price-to-earnings ratio of -163.09 and a beta of 0.80. The company has a current ratio of 5.89, a quick ratio of 5.89 and a debt-to-equity ratio of 0.58. Twitter has a 1 year low of $31.30 and a 1 year high of $73.34.

Hedge funds have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Twitter by 15.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 29,825 shares of the social networking company’s stock valued at $1,801,000 after buying an additional 3,891 shares during the period. Retirement Systems of Alabama lifted its holdings in Twitter by 9.6% during the 3rd quarter. Retirement Systems of Alabama now owns 1,321,796 shares of the social networking company’s stock worth $79,823,000 after purchasing an additional 116,040 shares in the last quarter. Gabelli Funds LLC purchased a new stake in Twitter during the 3rd quarter worth about $393,000. Thunderbird Partners LLP purchased a new stake in Twitter during the 3rd quarter worth about $57,893,000. Finally, CWM LLC purchased a new stake in shares of Twitter in the 4th quarter valued at about $3,063,000. 78.96% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CAO Robert Kaiden sold 5,614 shares of the company’s stock in a transaction that occurred on Tuesday, February 1st. The stock was sold at an average price of $37.04, for a total transaction of $207,942.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ned D. Segal sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $32.27, for a total value of $161,350.00. The disclosure for this sale can be found here. Insiders sold a total of 20,614 shares of company stock valued at $781,743 over the last quarter. 2.56% of the stock is owned by insiders.

Twitter announced that its board has authorized a stock repurchase 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 reacquire up to 14% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Twitter Company Profile (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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