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Why Twitter (TWTR) Stock Is Up Today

NEW YORK (TheStreet) -- Twitter  (TWTR) rose Thursday after the social media company announced its acquisition of Namo Media to help strengthen its position in mobile advertising.

Twitter announced the acquisition in a blog post but did not discloses the financial terms of the deal. "We have been working to bring native ads to mobile app publishers in order to create a more seamless and less intrusive ad experience for users," the post reads.

Namo contributes technology for native advertising, which integrates ads into a website. A native ad could appear like a promoted story on a news site, for example.
 
 
 
Pacific Crest initiated coverage on Twitter with an "outperform" rating and set a $45 price target.
 
The stock was up 5.47% to $34.70 at 12:29 p.m.
 
TWTR Price Chart

TWTR Price data by YCharts

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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