11/18: Shares of Twitter (TWTR) declined 6.5%. Analysts at Wunderlich Securities on Monday initiated coverage of Twitter with a selling rating and a price target of $34, describing it as a great company with an overvalued stock.
"While the company has an impressive revenue growth opportunity over the next several years, it is currently in heavy investment mode," Blake Harper, an analyst at Wunderlich, said in a report. He expects the company to be in the red into fiscal 2015.
Twitter was also one of the stocks, along with LinkedIn Corp. (LNKD) and Workday Inc. (WDAY), identified by Barron's as being overvalued in a report published over the weekend. Concerns about Twitter's valuation have escalated in the wake of the microblogging company's strong debut on the market on Nov. 7.
NYSE: TWTR - Nov 20 11:26 AM ET
I'm watching for that $34 target myself