We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Why Shares Of Twitter Inc. (TWTR) Are Surging Today
Read MoreHide Full Article
Shares of social media company Twitter Inc. shot higher Wednesday after rumors of the company possibly being acquired were reignited. TWTR hit as high as $17.87 a share, a jump of over 8.5% from its open.
The latest rumor has Microsoft (MSFT - Free Report) CEO and now NBA franchise owner Steve Balmer teaming up with Saudi Investor Price Al-walweed Bin-Talal to buy out the company. Just this past fall Balmer purchased a 4% stake in TWTR.
Internet equity analyst Robert Peck of Suntrust Robinson Humphrey said however he doubts a deal for Twitter would occur in the near future. “Twitter will eventually be an acquisition candidate, but it’s not likely in 2016” he said in an interview.
The reasoning behind his doubts is that the company’s board of directors is for now fully behind company CEO Jack Dorsey’s plans for a turnaround. He also added that Dorsey himself would also be unlikely willing to sell.
Last week, Twitter released its second quarter earnings report that showed a beat on the Zacks Consensus Estimate for EPS, but revenues came up short. The company also reported that it added 3 million monthly active users in the quarter, bringing its total to 313 million, but has struggled in terms of growth compared to its rivals such as Facebook and Snapchat that continue to produce strong growth figures.
Twitter is currently a Zacks Rank #3 (Hold), and shares of the company had taken a hit of 29% year-to-date as of Tuesday’s close.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Shares Of Twitter Inc. (TWTR) Are Surging Today
Shares of social media company Twitter Inc. shot higher Wednesday after rumors of the company possibly being acquired were reignited. TWTR hit as high as $17.87 a share, a jump of over 8.5% from its open.
The latest rumor has Microsoft (MSFT - Free Report) CEO and now NBA franchise owner Steve Balmer teaming up with Saudi Investor Price Al-walweed Bin-Talal to buy out the company. Just this past fall Balmer purchased a 4% stake in TWTR.
Internet equity analyst Robert Peck of Suntrust Robinson Humphrey said however he doubts a deal for Twitter would occur in the near future. “Twitter will eventually be an acquisition candidate, but it’s not likely in 2016” he said in an interview.
The reasoning behind his doubts is that the company’s board of directors is for now fully behind company CEO Jack Dorsey’s plans for a turnaround. He also added that Dorsey himself would also be unlikely willing to sell.
Last week, Twitter released its second quarter earnings report that showed a beat on the Zacks Consensus Estimate for EPS, but revenues came up short. The company also reported that it added 3 million monthly active users in the quarter, bringing its total to 313 million, but has struggled in terms of growth compared to its rivals such as Facebook and Snapchat that continue to produce strong growth figures.
Twitter is currently a Zacks Rank #3 (Hold), and shares of the company had taken a hit of 29% year-to-date as of Tuesday’s close.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>