Twitter had a strong day in the market, spiking more than 4 percent in midday trading before ending the day up a slightly more modest 3.67 percent.
The company’s shares benefited from a positive ‘buy’ rating from Argus that included a $44 per-share price target. The company’s shares closed the day at $38.44 per share.
More dramatically, SunTrust’s Bob Peck, whose firm maintains a buy rating on Twitter’s shares, indicated on CNBC that its current CEO, Dick Costolo, may not be the company’s leading executive by the end of 2015. Under Costolo’s tenure atop the social company, it has reported strong financial performance, but lackluster user growth.
Twitter’s shares have a dramatic 52 week range of $29.51 to $74.73. Here’s the CNBC clip: