Twitter Inc. (NYSE: TWTR) is now two weeks old and it is still valued somewhere around 50-times sales. The stock lost about 3% this last week and shares were right at $41.00 at the close of the trading day on Friday. Twitter is now a stock that can be sold short and it has stock options trading as well. 24/7 Wall St. wanted to give an analyst montage again to see just how positive or negative Wall Street is on its valuation.
Source: Jon Ogg
Keep in mind that the underwriters still cannot initiate coverage until mid-December as they are in the post-IPO quiet period. These are the analyst calls we have seen since the company’s IPO:
BTIG assigned a Neutral rating this last week.
Cantor Fitzgerald initially started coverage with a Buy rating ahead of the IPO with a $32 price target. The Cantor call was downgraded this last week to an official Hold rating.
Evercore Partners issued an Overweight rating before Twitter opened, and its price target was $43 for the stock.
Morningstar initiated coverage with a Sell rating and it gave a $26 fair value target, which matches the IPO price valuations.
Pivotal Research issued a downgrade alert on the day of the IPO, saying it should fall down to a $30.00 price target.
RBC Capital Markets initially started coverage with an Outperform rating but its price target was down at $33.
R.W. Baird initiated coverage at a Neutral rating.
S&P Equity Research issued a Sell rating, along with a $30 price target. Despite making positive business comments, S&P’s $30 target is still 500-times its expected 2015 earnings per share.
Susquehanna assigned a Neutral rating.
Sterne Agee gave Twitter a Neutral rating and assigned downside price target valuations. The base case should be worth at least $25 to $32 in the next 12 to 24 months.
UBS assigned a Neutral rating and a $45 price target.
Wedbush Morgan initiated coverage with a Neutral rating.
Wunderlich Securities started coverage with a Sell rating and said that the stock was worth $34 based upon its valuation.
One thing remains here, and that is that Wall Street analysts who were not in the underwriting syndicate are generally very cautious. After pricing at $26, Twitter’s post-IPO trading range has been $39.40 to $50.09.
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