Cramer: 'All is Forgiven' at Twitter Now That It's Making Money
NEW YORK (TheStreet) -- "All is forgiven" at Twitter (TWTR) - Get Report since the company reported good earnings in early February, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment.
CEO Dick Costolo is finally making necessary changes at the social media company, which is an AAP holding, Cramer said.
The Street is taking notice -- shares are up 1.6% Monday, over 32.6% on the year to date and up almost 17% since reporting fiscal fourth-quarter earnings Feb. 5 that topped earnings per share and revenue estimates. J.P. Morgan analysts reiterated their overweight rating and put a $67 price target on the stock Monday.
Cramer pointed out Twitter has a "hidden giant" in native video, or ads that are integrated into users' desktop and mobile that match the form and function of editorial feeds. This is something that will be an important step for the company to use to make more money.
Cramer said Costolo realizes that and "this is the beginning" of his efforts to "monetize" that asset. To Cramer that means the situation at Twitter has changed for the better.
At the time of publication, Cramer's Action Alerts PLUS had a position in TWTR.