Are you bullish about Twitter?
I am, certainly in the long term. But after the success of Twitter’s IPO, which saw the company set a price of $26 per share that soared to $44.90 by the end of the day, the stock has meandered somewhat, and currently sits at $41 and change.
So, what next? Is this a good time to buy TWTR?
Well, if you believe the results from a recent Bloomberg poll, the answer is no. Bloomberg interviewed 750 customers and discovered that more than two-thirds (68 percent) expect Twitter’s stock to be priced at less than $44.90 per share six months from now, with just 12 percent bullish on the firm over that period.
Twitter, of course, is yet to turn a profit, and I personally don’t think we’ll see a rally of significance – certainly one that is sustained – in the stock price until their financials turn a serious corner. Until then, I’d say it’s probably a safe bet that the stock won’t be higher than $44.90 by end of Q2 2014, but I’d be amazed if it isn’t well above this by the same time a year later.