Twitter (TWTR) Pares Gains Following Solid IPO
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Price: $53.70 --0%
Rating Summary:
10 Buy, 47 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 25
Rating Summary:
10 Buy, 47 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 18 | New: 25
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Following Twitter's (NYSE: TWTR) strong IPO on Thursday, shares are pulling back today as some pare gains and heed analyst warnings.
Earlier, Hudson Square started coverage on Twitter at Sell, setting a low price target of $20.
Thursday, Pivotal Research downgraded Twitter from Buy to Sell -- a two-notch move -- saying shares are now overvalued. The firm is looking for Twitter to move somewhere back into the high-$20 to low-$30 range.
Wedbush was also less sanguine on the name. They rate Twitter a Neutral with a $37 price target. Analyst Michael Pachter arrives at his price target by assuming that Twitter doubles its MAUs from the current 230 million to 460 million over the next five years, and by further assuming that its current rate of 7 timeline views per day grows to 10 timeline views per day due to more Verified Accounts.
After pricing 70 million shares at $26 apiece, Twitter opened at $45.10 on Thursday. The stock gave back some of the initial gains throughout the day, closing at $44.90. Currently, shares are down about 2.7 percent.
Earlier, Hudson Square started coverage on Twitter at Sell, setting a low price target of $20.
Thursday, Pivotal Research downgraded Twitter from Buy to Sell -- a two-notch move -- saying shares are now overvalued. The firm is looking for Twitter to move somewhere back into the high-$20 to low-$30 range.
Wedbush was also less sanguine on the name. They rate Twitter a Neutral with a $37 price target. Analyst Michael Pachter arrives at his price target by assuming that Twitter doubles its MAUs from the current 230 million to 460 million over the next five years, and by further assuming that its current rate of 7 timeline views per day grows to 10 timeline views per day due to more Verified Accounts.
After pricing 70 million shares at $26 apiece, Twitter opened at $45.10 on Thursday. The stock gave back some of the initial gains throughout the day, closing at $44.90. Currently, shares are down about 2.7 percent.
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