NEW YORK (TheStreet) -- Shares of Twitter (TWTR) climbed 7.5% on Wednesday, following encouraging commentary from the company's Analyst Day. According to Steve Grasso, director of institutional sales at Stuart Frankel, the stock is poised to move higher, especially if the Street warms up to the new user metrics the company plans to use. He is long the stock.
"I think it's put in a bottom," Brian Kelly, founder of Brian Kelly Capital, said in regards to Twitter. The company has a unique, valuable platform.
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The stock will probably move higher into its next earnings report, said Karen Finerman, president of Metropolitan Capital Advisors. However, the valuation is too high for her so she's staying away from the stock.
Management seems out of touch at the moment, according to Guy Adami, managing director of stockmonster.com, but they will get it right moving forward. He cited Facebook's (FB) CEO Mark Zuckerberg as an example. Investors who are long, but nervous about their long position can use $40 as their stop-loss.
There are some 500 million users that access Twitter but don't log on, said Neil Doshi, co-head of tech and media at CRT Capital. If the company can find a way to monetize those users, the stock will become much more valuable.
Twitter wasn't the only company with positive news Wednesday as Macy's (M) topped third quarter EPS estimates. The company purposely lowered full-year estimates, Finerman urged. The company has great management and should perform well going forward. The stock climbed 5% on the day.
Adami agreed, adding that the stock seems poised to surpass $65 per share, before moving higher over the next 12 months.
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