NEW YORK (TheStreet) -- Shares of Twitter  (TWTR) - Get Report closed up 1.73% to $47.07 in afternoon trading Thursday after Axiom Capital commented that the social media company is seeing a "big pick-up" in advertising dollars.

"From our checks with Twitter's marketing partner, Ampush, we learned that they are seeing a 'big pick-up' in advertising dollars going to Twitter in 1Q15," the firm wrote in a research note. "They were unwilling to quantify the level of that 'pick-up' but assured us that it was a meaningful increase from what they have seen in the past. Twitter is now becoming a must-buy for advertisers and Ampush sees potential for ad growth to accelerate on Twitter this year."

News broke earlier this week that Twitter has opened an office in Hong Kong, its first in greater China. The social media company has not been allowed to do business in China since 2009, as the government of the world's most populous nation has been concerned about tightly controlling the flow of information.

But Twitter is looking to do business with Chinese companies that operating outside the U.S. in lieu of trying to break into mainland China.

RealMoneyPro.com columnist Doug Kass wrote a bullish article on TheStreet earlier today about Twitter. Here is a portion of what he had to say:

Until today, I have been long TWTR common and short TWTR calls.

But today, I will be taking off my short call hedge and moving back net long TWTR. I previously was looking for a share price below $45 as a re-entry level.

Specifically, my channel checks this week have uncovered a surprisingly swift and recent improvement in advertising commitments from current advertisers and a clearer indication that prospective advertisers are poised to adopt Twitter as an important platform in the time ahead. This could serve to be a pathway and important near-term catalyst to a meaningful up-leg in Twitter stock.

Jim Cramer, Portfolio Manager of the Action Alerts PLUS charitable trust, agreed with Kass that Twitter is full of opportunity. Cramer owns Twitter for ActionAlertsPLUS.com.

"I have felt that this franchise is dramatically undervalued. Of course, not on short-term because the earnings aren't that terrific, but on long-term," Cramer said. "Doug's note makes me feel it's also undervalued short-term. I would be a buyer of Twitter."

Insight from TheStreet's Research Team:

Twitter is a part of Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Here is what Jim Cramer, Portfolio Manager & Jack Mohr, Director of Research - Action Alerts PLUS had to say about the stock in a recent alert:

We are adding to our Twitter position today, buying 500 shares at $46.97.

We are below our cost basis on the name and believe, based on several recent industry reports, that the company is seeing a meaningful pickup in advertising dollars, particularly in this quarter. While Twitter is still years behind Facebook  (FB) - Get Report as an advertising platform, many advertisers that have come to understand how to properly utilize Twitter's ad platform have seen material improvements in click-through rates, downloads and sales conversions. Advertisers are finding that the targeting of keywords, trends and events is highly effective.

- Jim Cramer and Jack Mohr, 'Accumulating More Twitter' originally published 3/12/2015 on ActionAlertsPLUS.com.

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