1. Twitter, Inc. (NYSE: TWTR)
Number of Hedge Fund Holders: 107
Twitter, Inc. (NYSE: TWTR) is ranked first on our list of 10 undervalued internet stocks with huge upside. The company is based in California and owns a social networking platform. According to Vishesh Raisinghani, a market expert focusing on the technology sector, the stock is the perpetual underdog but remains in position to achieve a price target of $100. The expert underlined the recent induction of Paul Singer, a legendary investor with a reputation for ruthless management decisions, to the board as one of the potential upside for the firm in the long term. Raisinghani notes how his introduction has already resulted in several new innovations by the company in recent months.
On July 30, investment advisory BMO Capital reiterated a Market Perform rating on Twitter, Inc. (NYSE: TWTR) stock and raised the price target to $70 from $65, noting that the rating was neutral but could change as results of advertising and ecommerce products of the firm rolled out.
At the end of the first quarter of 2021, 107 hedge funds in the database of Insider Monkey held stakes worth $4.5 billion in Twitter, Inc. (NYSE: TWTR), up from 78 in the preceding quarter worth $2.7 billion.
RGA Investment Advisors, in its Q1 2021 investor letter, mentioned Twitter, Inc. (NYSE: TWTR). Here is what the fund has to say in its letter:
“‘The bird has wings’—Twitter’s quarter started off somewhat ominously, with Twitter the worst performing stock in the S&P 500 following the January 6th insurrection and questions about the stickiness of the userbase after permanently suspending the account of President Trump.8 By the end of the quarter, Twitter was one of the best performers in the index after exceptionally strong fourth quarter earnings and guidance for the year and an upbeat analyst day that highlighted a rapidly evolving product roadmap placing the timeline at the center of ephemeral (fleets), long form (Revue) and voice (Spaces). The improvements to the experience makes the platform more accessible and provides more opportunity to continue growing the userbase. Importantly, Twitter also embraced what we have been calling “creative empowerment” in previewing SuperFollows and a host of features designed to help content creators and contributors monetize their own audience on Twitter itself. These developments, alongside considerable progress on the advertising platform give us growing conviction that Twitter will deliver on its largely untapped opportunity—in other words, the value creation opportunity on top of the low multiple we were able to build our position at. Elliot spoke at length about these developments on Yet Another Value Podcast with Andrew Walker and The Business Brew with Bill Brewster, which we invite you to check out.”
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