The stock of Twitter, Inc. (NYSE:TWTR) is now priced at $41.15 and the shares are 0.57 points up or 1.4% higher compared to its previous closing price of $40.58. The stock had 10.25 million contracts set over the past session. TWTR shares’ daily volume is compared to its average trading volume at 20.141 million shares. However, it has a float of 762 million and although its performance was 1.48% over the week, it’s one to watch. Analysts have given the TWTR stock a yearly average price target of $36.9 per share. It means the stock’s downside potential is -10.33% with the TWTR share price recently placing at $40.14 to $41.245. However, some brokerage firms have priced the stock below the average, including one that has called $19.
The shorts are running away from the Twitter, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the TWTR shares have declined. Short interest in the stock represents just 4.43% of its float, but the volume has dropped by 0.
In the last trading session, Twitter, Inc. (NYSE:TWTR) raised by $0.6 over the week and gained $4.8 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $45.85. The stock recorded its established 52-week high on 09/09/19.
Since 03/18/20, the stock has traded to a low of $20 at 105.75%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.87. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Twitter, Inc.’s two-week RSI is 71.94. This suggests that the stock is oversold at the moment and that TWTR shares’ price movement remains not stable. The stochastic readings are equally revealing at 91.1% meaning the TWTR share price is currently in oversold territory.
The technical chart shows that the TWTR stock will likely settle at between $41.55 and $41.95 per share. However, if the stock dips below $40.44, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $39.74.
Currently, the stock is trading in the green of MACD, with a reading of 0.54. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Canaccord Genuity though raised target price of TWTR stock from $32 to $40 but maintained Hold recommendation in their July 24 review. Citigroup analysts see the stock as a Neutral, but they also raised the share’s target price from $30 to $36 in a flash note released to investors on June 22. Pivotal Research Group seeing the stock struggling downgraded it from Buy to Hold on May 01 placing it at $32.25 to $32.
The average rating for the TWTR equity is 2.88 and is currently gathering a bullish momentum. Of 40 analysts tracking Twitter, Inc. polled by Reuters, 29 rated TWTR as a hold. The remaining 11 analysts were split evenly. However, the split wasn’t equal as a majority (7) rated it as a buy or strong buy. 4 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the TWTR stock price is 56.14X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 44.7. Twitter, Inc. has its P/E ratio at 4.3, which means that the stock is currently trading at a discount relative to the 6.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Twitter, Inc. (NYSE:TWTR) will increase by about 12.31%, which will see them reach $767 million. The company’s full-year revenues are, however, expected to diminish by about -4.91%, down from $3460 million to $3290 million. TWTR’s expected adjusted earnings should drop almost -70.59% to end up at $0.05 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -136.71% to record -$0.87/share.