Twitter soars again; valuation reaches stratospheric levels

|By:, SA News Editor

Though a number of high-beta Internet names rallied today - Facebook moved higher with the help of a bullish Cantor note - Twitter (TWTR +7.7%) took the cake once again. Following today's gains, which came in the absence of major news, Twitter is up 148% from its $26 IPO price, and 43% from its opening trade of $45.10.

After factoring options and restricted stock units, Twitter's market cap is north of $45B, and is respectively equal to ~70x and ~40x consensus 2013 and 2014 sales estimates. Short-covering (previous) likely played a role in today's rally.