What's Going On With Twitter's Stock Today?

Twitter Inc TWTR is trading higher Friday after the company reported better-than-expected second-quarter financial results. 

Twitter reported quarterly earnings of 8 cents per share, which beat the estimate by a penny. The company reported quarterly revenue of $1.19 billion, which beat the estimate of $1.06 billion. The company also reported an 11% year-over-year increase in monetisable DAUs.

'As we enter the second half of 2021, we are shipping more, learning faster, and hiring remarkable talent,' said Jack Dorsey, CEO of Twitter.

Analyst Assessment: Multiple analyst firms raised price targets on the stock following its financial results:

• Keybanc analyst Justin Patterson maintained Twitter with an Overweight rating and raised the price target from $77 to $81.
• Rosenblatt analyst Mark Zgutowicz maintained Twitter with a Neutral rating and raised the price target from $60 to $65.
• Mizuho analyst James Lee maintained Twitter with a Neutral rating and raised the price target from $65 to $70.
• Oppenheimer analyst Jason Helfstein maintained Twitter with an Outperform rating and raised the price target from $70 to $85.
• Morgan Stanley analyst Brian Nowak maintained Twitter with an Equal-Weight rating and raised the price target from $62 to $68.
• Canaccord Genuity analyst Maria Ripps maintained Twitter with a Hold rating and raised the price target from $68 to $78.
• Barclays maintained Twitter with an Underweight rating and raised the price target from $48 to $60.

Price Action: Twitter has traded as high as $80.75 and as low as $35.65 over a 52-week period.

At last check Friday, the stock was up 3.85% at $72.25