The share price of the social media company went right up to $100, making the analysts in the industry very bullish about the upcoming earnings call that it is going to make for its fourth financial quarter of the year
In the most recent news about Facebook Inc, it was seen that the giant turned out to do surprisingly well enough on the stock index to reach a share price of $100 that was also considered as one of the most important developments that have been made by the giant in a time period of six to eight days only. On Friday, October 23, the media company’s stock went up and touched the share price targets that all the most bullish analysts had predicted it to get. Following the raise it has received on the index, the market cap of the giant has managed to come around $280 billion, which is another milestone that has been accomplished by the media owners.
According to a Facebook news article, it was also seen that the social media platform has been working hard towards making its presence in the search engine media industry a little better than before, so that it is good enough to be compared by Alphabet’s Google in the long run. Keeping a close eye on the increasing worth of the shares of the media company, it was also seen that presently the equity analysts in the company have emerged to be quite over to the bullish side when talking about the future of the giant. In a research note that was presented last week, analysts released a consensus price target rating for the media giant in which it is expected to report a market cap of $300 billion sooner than later.
Since the past couple of months, Facebook stock has managed to sustain a share value of $90 and this has been observed more accurately starting from July. The day the social networking company reported this share price, analysts on the Street started discussions and predictions about how it is probable that the media giant ends up touching the $100 share price latest by 2016. The recent upgrade shows that the stock has reacted positively way before the expected time, something that is being looked at by the equity firms in a very bullish manner.
On Friday, the value of the share went as high as $102, where it previously opened at $101.91. The predictions for this kind of a share price was made already back in July, right after the media company announced its earnings for the quarter. On the other hand, the giant will report earnings for the 4th quarter in line on November 6, 2015. The analysts have already turned out to be positive about the upcoming earnings call, given how well the giant has been doing on the stock lately.