Trader long on Twitter, says 'buy now'

Twitter stock is down 27 percent this year, but CNBC "Fast Money" trader Steve Grasso thinks it's headed higher.

Twitter shares popped Thursday after the social media company announced it will make its analytics available to the masses.

In early afternoon trading Friday, Twitter's price was $49.38.

"If you don't have the stomach for a lot of volatility use $46.55 as your stop," Grasso said.

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For traders with a bit more appetite for risk, Grasso said, "Here is what I'm looking for, $52 to the upside and then the next stop will be $57. I'm pretty confident it will get there if momentum stays intact."

Grasso is long on Twitter and has been since the company's IPO in November.

—By CNBC's Kristin Cwalinski