Here's the "model" that justifies a price target of $600: Vols x Price - Costs - Taxes = Net Income Net income is traditionally defined as Revenue - Expenses.

Here's the "model" that justifies a price target of $600: Vols x Price - Costs - Taxes = Net Income Net income is traditionally defined as Revenue - Expenses. From what I can tell, the Twitter formula is deriving net income from the market price of the stock, which is flawed.