Twitter Inc (NYSE:TWTR) continues to see its ups and downs as Wall Street has a love-hate relationship with it. The stock started climbing last week, and some analysts see further upside for the micro-blogging company. Specifically, SunTrust analyst Robert Peck thinks investors will be surprised at the value MoPub brings to the table.

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MoPub may be more valuable than investors think

Peck has reiterated his Buy rating and $45 per share price target on Twitter Inc (NYSE:TWTR). He sees MoPub as being one of the company’s best assets because it gives clients more flexibility in how they want to build their mobile ad inventory. They can either do it directly or through real-time bidding.

The analyst thinks MoPub will be one of the few ad exchanges in the world that includes mobile native ads that leverage information based on identities. He thinks only Facebook Inc (NASDAQ:FB), Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) and Apple Inc. (NASDAQ:AAPL) can rival MoPub’s potential scale.

Why MoPub is valuable to Twitter

He expects Twitter Inc (NYSE:TWTR) to see over $500 million in revenue from MoPub by 2017 and lists three main reasons the ad exchange is so important to the company. First, he said real-time bidding and mobile advertising are rapidly growing and have already become a good portion of most companies’ advertising budgets.

Second, he said the platform is able to leverage the information about Twitter Inc (NYSE:TWTR) users’ identities to improve ad targeting capabilities. And third, he thinks MoPub will be able to integrate across multiple demand-side platforms and networks, thus broadening its reach. He projects that the platform can process about 130 billion ad requests every month.

Twitter’s user growth still a concern?

Some analysts have been trying to change investors’ perceptions that user growth is Twitter Inc (NYSE:TWTR)’s most important metric. Recently the company announced that it is replacing its chief operating officer. Investors are undoubtedly hoping to see user growth improve under new management.