Twitter Inc (NYSE:TWTR) investors woke up on Thursday to find the stock trading 17% lower following a concerning report that Walt Disney and Alphabet won’t submit bids for the social media platform.
Twitter shares have been rising since reports first emerged two weeks ago of multiple potential buyers, including Salesforce, Alphabet, and Disney.
When asked about rumors of an acquisition, Salesforce CEO Marc Benioff told CNBC yesterday that he was not willing to “start a precedent by having to address specific deals.” However, “The reality is we have to look at everything, but we’re going to pass on most things.”
On the ratings front, Twitter has been the subject of a number of recent research reports. In a report released today, Suntrust Robinson Humphrey analyst John Rizzuto maintained a Hold rating on TWTR. Separately, on October 4, Susquehanna’s Shyam Patil reiterated a Hold rating on the stock and has a price target of $15.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, John Rizzuto and Shyam Patil have a total average return of -6.3% and 11.2% respectively. Rizzuto has a success rate of 58% and is ranked #3416 out of 4190 analysts, while Patil has a success rate of 74% and is ranked #424.
The street is mostly Neutral on TWTR stock. Out of 33 analysts who cover the stock, 20 suggest a Hold rating , 8 suggest a Sell and 5 recommend to Buy the stock. The 12-month average price target assigned to the stock is $18.60, which reflects a potential downside of -25.2% from last closing price.
Twitter, Inc. is a global platform for public self-expression and conversation in real time. It provides a network that connects users to people, information, ideas, opinions, and news. The company services include live commentary, live connections and live conversations. Its application provides social networking services and micro-blogging services through mobile devices and the Internet. It can also be used as a marketing tool for businesses.