Brokerages expect Twitter, Inc. (NYSE:TWTR) to post $1.06 billion in sales for the current quarter, according to Zacks. Eleven analysts have provided estimates for Twitter's earnings, with estimates ranging from $1.04 billion to $1.08 billion. Twitter reported sales of $683.44 million in the same quarter last year, which indicates a positive year over year growth rate of 55.1%. The business is expected to announce its next quarterly earnings results on Thursday, July 22nd.
According to Zacks, analysts expect that Twitter will report full year sales of $4.79 billion for the current financial year, with estimates ranging from $4.69 billion to $4.96 billion. For the next financial year, analysts anticipate that the business will report sales of $5.93 billion, with estimates ranging from $5.69 billion to $6.19 billion. Zacks Investment Research's sales calculations are an average based on a survey of research firms that cover Twitter.
Twitter (NYSE:TWTR) last issued its earnings results on Thursday, April 29th. The social networking company reported $0.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.02. Twitter had a negative return on equity of 11.06% and a negative net margin of 23.05%. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.03 billion.
A number of research firms recently commented on TWTR. Truist Securities raised Twitter from a "hold" rating to a "buy" rating and increased their price target for the company from $64.00 to $74.00 in a research report on Monday, March 29th. Piper Sandler lowered their price target on Twitter from $71.00 to $66.00 and set a "neutral" rating for the company in a research report on Friday, April 30th. Pivotal Research increased their price target on Twitter from $77.25 to $95.00 and gave the company a "buy" rating in a research report on Friday, February 26th. Citigroup lowered their price target on Twitter from $80.00 to $58.00 in a research report on Monday, May 10th. Finally, Stifel Nicolaus increased their price target on Twitter from $60.00 to $70.00 in a research report on Friday, February 26th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of "Hold" and an average target price of $68.57.
Shares of TWTR opened at $60.50 on Friday. Twitter has a 12-month low of $28.23 and a 12-month high of $80.75. The stock has a fifty day moving average price of $60.39. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.55. The company has a market cap of $48.29 billion, a PE ratio of -51.71 and a beta of 0.74.
In other news, CFO Ned D. Segal sold 7,000 shares of Twitter stock in a transaction dated Tuesday, May 11th. The stock was sold at an average price of $50.18, for a total transaction of $351,260.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vijaya Gadde sold 14,470 shares of Twitter stock in a transaction dated Monday, May 17th. The shares were sold at an average price of $52.23, for a total value of $755,768.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,787 shares of company stock valued at $4,713,231. 2.56% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of TWTR. Cambridge Investment Research Advisors Inc. boosted its position in shares of Twitter by 7.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 78,777 shares of the social networking company's stock valued at $4,266,000 after acquiring an additional 5,280 shares during the last quarter. Maryland State Retirement & Pension System purchased a new position in shares of Twitter during the 4th quarter valued at about $644,000. Regentatlantic Capital LLC raised its holdings in shares of Twitter by 3.9% during the 4th quarter. Regentatlantic Capital LLC now owns 9,914 shares of the social networking company's stock valued at $537,000 after buying an additional 375 shares in the last quarter. UMB Bank N A MO raised its holdings in shares of Twitter by 47.4% during the 4th quarter. UMB Bank N A MO now owns 39,715 shares of the social networking company's stock valued at $2,151,000 after buying an additional 12,779 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Twitter by 24.8% during the 4th quarter. US Bancorp DE now owns 9,801 shares of the social networking company's stock valued at $530,000 after buying an additional 1,946 shares in the last quarter. Hedge funds and other institutional investors own 78.23% of the company's stock.
Twitter Company Profile
Twitter, Inc operates as a platform for public self-expression and conversation in real time United States, Japan, and internationally. 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 tweets, promoted accounts, and promoted trends, which enable its advertisers to promote their brands, products, and services.
Featured Story: What is the Ex-Dividend Date in Investing?
Get a free copy of the Zacks research report on Twitter (TWTR)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: Compound Interest and Why It Matters When Investing7 Stocks That Could Benefit From a Capital Gains Tax Hike
One thing every investor needs to learn is the effect of capital gains on their investments. Every time an investor sells a stock that has appreciated in value, that capital gain is subject to being taxed. Stocks that are held for less than a year pay a short-term capital gains tax rate. Stocks that are held for over a year pay a long-term capital gains tax rate.
In general, a capital gains tax hike is a bearish indicator for stocks. However, there are a couple of strategies that can help investors avoid some of the tax hit. One strategy is to keep your investments in an individual retirement account (IRA) or 401(k). However many higher-income earners want to have more access to the funds in their brokerage accounts.
A sound strategy for these investors involves buying dividend stocks. Dividend income is also taxed (unless it is reinvested), but typically when the capital gains tax rate is raised, the dividend income rate stays the same. This makes dividend stocks more attractive.
Investing in dividend stocks is never a bad idea, but at times when the capital gains tax rate is favorable, growth stocks provide a better reward for investor capital. But when long-term capital gains tax rates go up, those gains can get expensive.
In this special presentation, we’ll give you seven stocks that have a nice dividend yield and a strong story to go along with them.
View the "7 Stocks That Could Benefit From a Capital Gains Tax Hike"