Facebook Inc (NASDAQ:FB), Crossing the $100 Mark For The First Time During Early Trading Today | Stocks Newswire

During Friday’s Current trade, Shares of Facebook Inc (NASDAQ:FB), gained 1.22% to $100.96. The firm opened its current trade at $101.91, and as of now, it is trading at $100.97. The total volume traded for the day is 19.04M shares, as compared to its average daily volume of 27.78M shares. The stock is floating in a range of $100.16 $102.15. The stocks hold the market capitalization of $280.49B.

Shares of Facebook Inc (NASDAQ:FB), rose 1.27%, crossing the $100 mark for the first time during early trading today.

Already the fastest company ever to reach $250 billion in market value, the social network operator just jumped over $100 a share, capping a 451 percent rally since September 2012 for the fourth-best performance in the Standard & Poor’s 500 Index, according to Bloomberg

“The big seminal event for Facebook was showing they could make noteworthymoney and turn themselves into a well-run company,” Tim Ghriskey, who assists oversee $1.5 billion as managing director and chief investment officer at Solaris Asset Administration, said by phone. The firm owns Facebook shares. “They’ve seen strong growth in advertising spending and viewership.”

This isn’t Facebook’s first flirtation with the $100 level. On July 21, the stock came within 1.6 percent of breaking it. It then became mired in the August stock market selloff, dropping 14 percent over three days to a two-month low. Since then it’s shown resilience, rallying back 21 percent. Bloomberg Report

Facebook is planned to report its earnings results for the three months ended on September 30. Analysts are expecting Facebook to once again deliver growth-filled results during the earnings call for the third quarter. Analysts are expecting Facebook’s revenue to improvement by 36% year-over-year (YoY) to $4.36 billion. On this figure, the social media giant is predictable to earn a profit of 52 cents per share, reflecting a YoY growth of 30%. Historically, Facebook has surpassed street expectations for the past nine quarters. As such, many expect the company to do the same this time around as well. Bidnessetc Report

Short-Term Price Target Update: The mean estimate for the short-term price target for the firm stands at $112.57, according to 46 brokers. The higher price target for FB is $146.00, while the lower price target is $68.00. In the past 52-weeks, the company shares have gained 26.12% and marked new high $102.15 on Oct 22, 2015.

According to Zacks Investment Research, 0 analyst has rated the stock with a sell rating, 1 have assigned a hold rating, 4 says it’s a buy, and 25 have assigned a strong buy rating to the company.

Facebook, Inc. is a social networking company. The Company is engaged in developing products that enables users to connect and share through mobile devices and personal computers. It offers various services focused on people, marketers and developers.

About Travis Garlick 1791 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.