Recently, video has become a popular feature among users of Facebook’s social media app. The company has said the video posts have risen by 75% worldwide and by 94% in the United States in 2014, according to a report at The Wall Street Journal.
Facebook was recently shown to have had a global economic impact of roughly $227 billion. The study was conducted by Deloitte, but the claims may be impossible to prove.
The company has been on a huge roll the past three earnings-reporting quarters, and many on Wall Street feel that the stock has plenty of room to run. Mobile revenue and advertising numbers have skyrocketed, and the company has started to add a search component that could prove to be another earnings silo for the social media giant.
Analysts are now calling for Facebook’s stock to rise over the $100 mark. Recently Credit Suisse set its price target at $102 and Oppenheimer set its price target at $100, both with an Outperform rating. The highest listed analyst price target is $105, implying an upside of 39% from Tuesday’s close.
The 50-day moving average is at $76.55 and currently being tested. The 200-day moving average reads at $71.53. The moving averages have been largely immaterial to the movement of Facebook shares.
Shares of Facebook were up 1% at $76.72 in Wednesday’s first hour of trading. The stock has a consensus analyst price target of $88.66 and a 52-week trading range of $53.19 to $82.17.
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