TwitterShares rose 15.38% to $69.08 at the start of the day, and the share price hit a new high in nearly a year. The company's Q4 performance exceeded expectations and a number of big banks raised its target price.
Twitter's fourth-quarter revenue was $1.29 billion, up 27.96% from a year earlier, after analysts had expected fourth-quarter revenue of $1.19 billion.
Goldman Sachs GroupRaise the target price for Twitter from $55 to $78, rating buy.Morgan StanleyRaise its target price from $50 to $54.