2 Sets Of Analysts Now Say Facebook Stock Will Hit $65 Per Share
Reuters/Robert Galbraith
Mark Zuckerberg
Facebook is set to deliver its Q3 earnings next week, on Thursday afternoon. In its short history, Facebook launched at $38 in 2012, promptly collapsed to around $17, and has been on a tear all this year.
Just last month, we expressed surprise that Facebook was about to cross the $50 barrier - and it's traded around $52 ever since.
What seems to have changed is that Wall Street is waking up to the fact that Facebook is about to introduce advertising into Instagram, the wildly popular photo-sharing app it owns. Analysts at Evercore believe Instagram could throw off $340 million in revenue in 2014.
The two research firms making the $65 call this week were JMP Securities and Needham.
They are at the top of the range, as this box from Yahoo Finance shows:
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