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TheStreet Open House

'Fast Money' Recap: A Game-Changing Twitter Quarter

NEW YORK (TheStreet) -- The S&P 500 slid 0.45% amid further sanctions against Russia from the U.S. and European Union. 

On CNBC's "Fast Money" TV show, the trading panel first took a look at the revenue and earnings beat by Twitter (TWTR) that pushed the stock up by 32% in after-hours trading. 

Dan Nathan, co-founder and editor of riskreversal.com, who is long the stock, said Twitter's platform "really shines around big events" such as the World Cup. The company has tons of potential as it increases its ad count. However, he did not advise investors to buy near current levels. 

"I think it is a game-changing quarter," according to Steve Grasso, director of institutional sales at Stuart Frankel. 

Brian Kelly, founder of Brian Kelly Capital, said Twitter's earnings surprise has made him want to own the stock. He is looking to buy on a pullback. 

Guy Adami, managing director of stockmonster.com, said $52 will be an important level to watch for shares of Twitter. His top pick is Facebook (FB), which seems poised to move higher, along with LinkedIn (LNKD)

Robert Peck, managing director at SunTrust Robinson Humphrey, has a buy rating on Twitter with a $45 price target. He said there were five main takeaways from the earnings report: monthly active users accelerated, U.S. user count increased, revenue per user grew, advertising revenue increased and incremental margins increased. Based on an Ebitda valuation, the stock is still roughly four times more expensive than Facebook. 

Adami said investors could trade Panera Bread (PNRA) from the long side, with a stop-loss at $140, even though Panera did not report very good earnings. 

Kelly said he is long the iShares Nasdaq Biotechnology ETF (IBB) and SPDR Biotech ETF (XBI) because he wants exposure to the industry, but not the risk of owning individual stocks. 

Ben Baldanza, president and CEO of Spirit Airlines (SAVE), was a guest on the show. In the previous quarter, his airline's average ticket price was relatively low, at just $85. Spirit is not focused on the business class traveler unlike many other airlines. He said the company can maintain its margins and expand its number of flight routes.

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