Facebook Inc. – (NASDAQ: FB)
Facebook stocks are on the rise yet again today following more good news. The Street reports that Facebook has put more effort toward their messenger platform, and we’ll learn the details of their plans very soon. Also, an analyst recently increased the company’s price target. Today, we’ll talk about what the messenger plans mean for the social media giant and revenue growth, the analyst price target update, and what we can expect to see from the stock in the future.
Facebook Messenger Could Become The Company’s Next Big Revenue Stream
Facebook announced that they will be adding new ways for third parties to use their messaging platform. While there hasn’t been much information leaked about the messenger’s new abilities, we won’t have to wait too long to get the scoop. Facebook will be providing information on the topic at this year’s F8 conference on March 25th – 26th. The one thing we do know so far is that the company will start by focusing “on how third parties can build ways for content and information to flow through messenger,”; clearly offering new opportunities for app developers.
FB Price Target Was Raised To $97
JPM securities has increased the price target for Facebook stock by 0.75%; increasing their target from $94 to $97. They also raised their 2015 revenue target; pushing it to $16.9 billion. JPM believes that excitement leading up to next week’s developers conference should nudge the stock higher. In the statement JPM Securities also reiterated the fact that they have the stock rating as “Market Outperform”. Overall, the analyst believes that “Facebook is well positioned to take a greater share of the overall advertising market”.
What We’re Seeing From Facebook Stocks Today
After a bit of a choppy morning, Facebook stocks are back on the rise today. After a rough morning, the stock finally made it to the green by 12:15. However, it’s been all up since then. Currently (1:57), Facebook shares are trading for $84.63 per share after gaining $0.83 per share or 0.99%.
Will We Continue To See Growth From Facebook?
If you follow my column here or my writing elsewhere, you already know how I feel about Facebook stock. The bottom line for me is that it will rise! The company has proven time and time again that they are capable of growth even when investors see a plateau on the horizons. The innovate and discover new ways to increase earnings all the time; and as JPM Securities said, they are on the right path to take a lion’s share of the overall advertising market….what more could investors ask for?
What Do You Think?
Do you think Facebook stocks will continue to climb? Let us know in the comments below!