How High Will Twitter’s Pre-IPO Price Targets Go?
As investors eagerly await the debut of Twitter (NYSE:TWTR ) on the New York Stock Exchange, some analysts see price targets anywhere from 30 percent to 300 percent above where the social media stock will debut on November 7, Reuters reports. Though some Wall Street insiders see lower demand when compared to the Facebook (NASDAQ:FB) initial public offering, the Twitter IPO is easily the hottest topic for investors this holiday season.
According to Reuters, Morningstar analysts placed a price target of $26 per share against the expected IPO price of $17 to $20, while Pivotal Research has Twitter at $29. Among the most bullish analysts, Topeka Capital tops the list at $54 while Sun Trust has the micro-blogging platform’s stock valued at an even $50.
Analysts see the yet-to-be-profitable social media site having the potential to rise because of the conservative nature of the company’s valuation. When Twitter’s leadership closed its first week of meetings with institutional investors Friday, a report from Bloomberg indicated there were enough buyers to snatch up all 70 million shares already waiting in the wings of the NYSE in advance of its Friday, November 7 debut.