Twitter (TWTR) PT Raised to $52 at Macquarie

Macquarie analyst Ben Schachter reiterated a Neutral rating and bumped his price target on Twitter, Inc. (NYSE: TWTR) to $52.00 (from $36.00) following Q2 results.

Schachter comments, "With a beat on MAU, revenue, and EBITDA, solid guidance, confident commentary from management on future growth (notably, both on- and off-Twitter), and strong advertiser demand for ad targeting and formats on social networks (particularly on mobile), we believe TWTR’s stock will now be based on a relative value to FB. In other words, until proven otherwise, investors will look at TWTR as a smaller version of FB that has the potential to continue to grow to some percentage as large as FB. Based on MAUs, TWTR is currently ~20% as large as FB (though time spent and other key metrics are still smaller). FB has a market cap of ~$190bn. 20% of $190bn is $38bn, which is approx. where TWTR traded up to after hours."

2014 EBITDA rises ~12% to $233mm.

For an analyst ratings summary and ratings history on Twitter, Inc. click here. For more ratings news on Twitter, Inc. click here.

Shares of Twitter, Inc. closed at $38.59 yesterday.

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