Stock analysts at Topeka Capital Markets initiated coverage on shares of Twitter (NASDAQ:TWTR) in a report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $54.00 price target on the stock.
The analysts wrote, “We are initiating coverage of Twitter pre-IPO with a $38 billion fair value target for year-end 2014, or $54 per share. We believe that Twitter’s user and advertising monetization platform is in the early innings. We see a well-defined ecosystem with strong network effects developing around Twitter that should lead to out-sized shareholder returns for years to come. As such, we recommend investors buy the shares of Twitter to capture upside from Twitter’s value creation engine.”
The stock has a 50-day moving average of $0. and a 200-day moving average of $0..
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee initiated coverage on shares of Twitter in a research note to investors on Tuesday. They set a $32.00 price target on the stock. Separately, analysts at Pivotal Research reiterated a “buy” rating on shares of Twitter in a research note to investors on Monday. They now have a $29.00 price target on the stock. Finally, analysts at Pivotal Research initiated coverage on shares of Twitter in a research note to investors on Monday. They set a “buy” rating and a $29.00 price target on the stock.
Twitter operates a free digital service site that blends social networking with the ability to post short messages (NASDAQ:TWTR) limited to 140 characters or less, commonly known by users as “Tweets.
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