Why Twitter (TWTR) Stock Closed Up Today

NEW YORK (TheStreet) -- Shares of Twitter  (TWTR) closed up 2.94% to $50.83 on Tuesday after MKM Partners reiterated its "buy" rating on the social media company with a $64 price target.

The firm said it continues to identify "signs of a mass-market use case for the Twitter service" and that it believes Twitter management's claim that it can make the service "pervasive."

MKM Partners also published results from its fourth round of surveys to determine patterns in Twitter users' behavior. The latest results come from 1,800 respondents, though the firm disclosed it would take more surveys to determine meaningful trends. Regardless, MKM Partners said Twitter has "solid dispersion across key demographic criteria."

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The survey showed Twitter users actually skewed a bit older than one might assume, as 37% of respondents were aged 35 to 44, 33% aged 25 to 34, and 17% aged 18 to 24. The study also revealed 31% of Twitter users earn $35,000 or less in income, 37% make $35,000 to $75,000, and 27% make more than $75,000.

Finally, 52% of respondents use the social media service to "access friends' news/photos and information on celebrities." Breaking news was also a major use for Twitter members.

TWTR Chart TWTR data by YCharts

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