Twitter Inc(NYSE:TWTR) announced in a corporate blog post that the company has agreed to acquire Gnip, a provider of social data and a long-standing Twitter partner. In the post, Twitter stated: “We believe Gnip has only begun to scratch the surface. Together we plan to offer more sophisticated data sets and better data enrichments, so that even more developers and businesses big and small around the world can drive innovation using the unique content that is shared on Twitter.”
The lockup on 489M Twitter shares expires on May 5. Despite the recent statement that co-founders Jack Dorsey and Evan Williams, along with CEO Richard Costolo, have no “current plans” to sell shares, the lockup expiration encompasses fully 83% of Twitter’s basic shares outstanding or two-thirds of the diluted count, added the Wall Street Journal.
Analysts have a consensus price target of $49 on Twitter Inc(NYSE:TWTR) which indicates a 22% upside. The consensus rating of the stock is a HOLD with a score of 1.91. There are currently 14 Hold Ratings, 8 Buy ratings and 11 Sell ratings on the stock.
A recent analyst action consisted of SunTrust lowering their price target from $60 to $55 on April 10th, 2014. That same day Cantor Fitzgerald upgraded the stock from a Sell to Hold rating, setting their price target at $45.
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