If you forgive yesterday’s downside action in the NASDAQ, tech stocks have been on fire. Pushing up near all-time highs every session, it’s been easy to make money on the four-letter tickers. Today’s Bull of the Day is a stock that managed to buck the downtrend yesterday and still come out on top. I’m talking about Zacks Rank #1 (Strong Buy) Twitter (TWTR - Free Report) .
Twitter, Inc. operates as a platform for public self-expression and conversation in real time. The company offers various products and services, including Twitter, a platform that allows users to consume, create, distribute, and discover content; and Periscope, a mobile application that enables user to broadcast and watch video live with others. 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. In addition, the company offers a set of tools, public APIs, and embeddable widgets for developers to contribute their content to its platform, syndicate and distribute Twitter content across their properties, and enhance their Websites and applications with Twitter content.
The reason for the favorable Zacks Rank comes from a spate of recent earnings estimate revisions to the upside. In the last week alone, three analysts have increased their EPS estimates for the current year. The bullish moves have pushed up our Zacks Consensus Estimates for the current year from $1.05 to $1.36. That would represent year-over-year EPS growth of 58.14%. Over the same period, revenues are estimated to grow by 17.06% to $3.56 billion.
It’s no wonder why the stock has been surging. Since bottoming out in the mid-teens during late 2017, shares have tripled. You can see the consistent move upwards, following the earnings trend, by taking a look at the Price, Consensus and EPS Surprise Chart here on Zacks.com. From this single chart you can glean a host of information. The multi-colored lines on the chart represent the evolution of our Zacks Consensus Estimates over time. Note the consistent move from the bottom-left to the top-right of the chart in each year from 2018 all the way through 2021.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
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