Wall Street analysts predict that Twitter, Inc. (NYSE:TWTR) will report $589.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Twitter’s earnings, with the highest sales estimate coming in at $610.94 million and the lowest estimate coming in at $559.00 million. Twitter reported sales of $615.93 million in the same quarter last year, which indicates a negative year-over-year growth rate of 4.3%. The business is expected to report its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Twitter will report full-year sales of $589.63 million for the current fiscal year, with estimates ranging from $2.20 billion to $2.45 billion. For the next year, analysts forecast that the company will report sales of $2.50 billion per share, with estimates ranging from $2.06 billion to $2.69 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Twitter.
Twitter (NYSE:TWTR) last released its quarterly earnings results on Thursday, July 27th. The social networking company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Twitter had a negative net margin of 18.25% and a negative return on equity of 2.91%. The business had revenue of $574.00 million for the quarter, compared to analysts’ expectations of $536.63 million. During the same period in the previous year, the company earned $0.13 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year.
TWTR has been the subject of a number of research analyst reports. Vetr upgraded shares of Twitter from a “buy” rating to a “strong-buy” rating and set a $19.17 price target for the company in a research note on Monday, June 12th. BidaskClub upgraded shares of Twitter from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded shares of Twitter from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, June 27th. Wells Fargo & Company reiterated a “market perform” rating on shares of Twitter in a research note on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $20.00 price target on shares of Twitter in a research note on Sunday, July 30th. Sixteen research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $15.49.
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In related news, Director Evan Clark Williams sold 452,500 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $17.82, for a total value of $8,063,550.00. Following the completion of the sale, the director now directly owns 2,789,339 shares of the company’s stock, valued at $49,706,020.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Vijaya Gadde sold 7,500 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $18.03, for a total transaction of $135,225.00. The disclosure for this sale can be found here. Insiders have sold 2,376,870 shares of company stock valued at $43,271,705 over the last three months. Insiders own 9.18% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TWTR. Toronto Dominion Bank lifted its stake in Twitter by 21.3% in the second quarter. Toronto Dominion Bank now owns 7,592 shares of the social networking company’s stock worth $136,000 after acquiring an additional 1,333 shares during the period. Westside Investment Management Inc. lifted its stake in Twitter by 46.0% in the first quarter. Westside Investment Management Inc. now owns 10,454 shares of the social networking company’s stock worth $152,000 after acquiring an additional 3,295 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its stake in Twitter by 112.3% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 8,781 shares of the social networking company’s stock worth $157,000 after acquiring an additional 4,645 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in Twitter in the first quarter worth about $159,000. Finally, Federated Investors Inc. PA purchased a new stake in Twitter in the second quarter worth about $174,000. 49.14% of the stock is owned by institutional investors.
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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