$689.56 Million in Sales Expected for Twitter, Inc. (TWTR) This Quarter

Equities research analysts forecast that Twitter, Inc. (NYSE:TWTR) will post $689.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Twitter’s earnings. The lowest sales estimate is $678.90 million and the highest is $699.76 million. Twitter posted sales of $717.21 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The firm is scheduled to report its next quarterly earnings results on Thursday, February 8th.

According to Zacks, analysts expect that Twitter will report full year sales of $689.56 million for the current financial year, with estimates ranging from $2.39 billion to $2.41 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.58 billion per share, with estimates ranging from $2.52 billion to $2.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Twitter.

Twitter (NYSE:TWTR) last announced its quarterly earnings results on Thursday, October 26th. The social networking company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $590.00 million for the quarter, compared to the consensus estimate of $586.22 million. Twitter had a negative return on equity of 1.21% and a negative net margin of 15.08%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share.

Several analysts recently issued reports on TWTR shares. Vetr upgraded Twitter from a “buy” rating to a “strong-buy” rating and set a $19.82 target price for the company in a research report on Monday, October 23rd. Stifel Nicolaus upgraded Twitter from a “sell” rating to a “hold” rating and increased their target price for the stock from $12.00 to $17.00 in a research report on Thursday, October 26th. Argus raised Twitter from a “hold” rating to a “buy” rating and increased their price target for the company from $19.71 to $25.00 in a research note on Friday, November 3rd. BidaskClub raised Twitter from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Finally, Citigroup raised Twitter from a “sell” rating to a “neutral” rating and increased their price target for the company from $19.90 to $20.00 in a research note on Monday, November 6th. Twelve equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Twitter has an average rating of “Hold” and an average price target of $17.99.

In other news, Director Evan Clark Williams sold 1,982,985 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $21.12, for a total transaction of $41,880,643.20. Following the sale, the director now owns 2,401,747 shares of the company’s stock, valued at $50,724,896.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Kaiden sold 5,926 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $19.51, for a total value of $115,616.26. The disclosure for this sale can be found here. Insiders sold 6,032,830 shares of company stock worth $122,125,443 over the last quarter. 10.79% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its position in Twitter by 78.3% in the second quarter. Northern Trust Corp now owns 8,350,037 shares of the social networking company’s stock valued at $149,215,000 after purchasing an additional 3,667,233 shares during the period. Vanguard Group Inc. lifted its position in Twitter by 6.2% in the second quarter. Vanguard Group Inc. now owns 48,836,225 shares of the social networking company’s stock valued at $872,704,000 after purchasing an additional 2,838,459 shares during the period. Renaissance Technologies LLC acquired a new stake in Twitter in the second quarter valued at about $43,694,000. Amerigo Asset Management lifted its position in Twitter by 46.2% in the third quarter. Amerigo Asset Management now owns 6,875,910 shares of the social networking company’s stock valued at $115,997,000 after purchasing an additional 2,172,000 shares during the period. Finally, Apertura Capital LLC acquired a new stake in shares of Twitter during the 2nd quarter valued at approximately $35,740,000. 50.83% of the stock is currently owned by institutional investors.

Shares of Twitter (NYSE TWTR) opened at $21.01 on Friday. The company has a quick ratio of 10.40, a current ratio of 10.40 and a debt-to-equity ratio of 0.35. Twitter has a 1 year low of $14.12 and a 1 year high of $22.48.

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About Twitter

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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