Since the mid of March both Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR) has done exceptionally well. Facebook Inc (NASDAQ:FB) stock has crossed the $80 mark and is consistently trading above that mark since then. Since the introduction of live streaming app ‘Periscope’ Twitter Inc (NYSE:TWTR) stock went up by around 2% and is currently hovering around the $50 mark. Jim Cramer talked on ‘TheStreet’ about both these social media stocks and shared his outlook for them.
Cramer said that he is excited about the potential of Whatsapp for Facebook Inc (NASDAQ:FB). Many people criticized the shear value of the Whatsapp acquisition by Facebook Inc (NASDAQ:FB), which was around $22 billion. Cramer feels that Whatsapp would be worth double than what Facebook Inc (NASDAQ:FB) paid for it, when Whatsapp goes public. He pointed out that Facebook Inc (NASDAQ:FB) is integrating the Whatsapp pretty fast and he feels that Facebook Inc (NASDAQ:FB) stock will be going further up.
“I am starting to think that Whatsapp, if it came public would be worth double of what Facebook paid for it and they are really integrating it rather quickly. I think Facebook goes substantially higher,” Cramer said about Facebook Inc (NASDAQ:FB) stock.
Cramer talked about Twitter Inc (NYSE:TWTR) and he said that Periscope is huge addition to Twitter Inc (NYSE:TWTR)’s platform. He feels that Periscope is going to be great for Twitter Inc (NYSE:TWTR) and he said that he would rate Twitter Inc (NYSE:TWTR) stock at ‘Buy’ with a target of $60.
“I think Periscope is huge. […] 20 people tweeted me [..] about why don’t I talk more about Periscope. I am talking more about Periscope. It’s really good. I think Twitter is buy to $60,” Cramer said about Twitter Inc (NYSE:TWTR) stock.
Both the social media giants, Facebook Inc (NASDAQ:FB) and Twitter Inc (NYSE:TWTR) are doing really well at the moment. What might it mean for the competition between the two? Periscope addition is huge for Twitter Inc (NYSE:TWTR) in their race to summit of the social media market. But they still lag behind Facebook Inc (NASDAQ:FB).
As Cramer said, Facebook Inc (NASDAQ:FB) stock could go further up, but can it breach the $100 mark? Cramer has set the price target of $60 for Twitter Inc (NYSE:TWTR). Can Periscope propel it to the $60 mark?
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