Facebook Stock: Headed to $500?
Although shares of Facebook (NASDAQ: FB) have advanced nearly 33% year to date, some analysts are concerned about its prospects. The stock's rise has leveled off after the company's second-quarter results in late July, as investors were concerned about a small decline in daily active users in the U.S. and Canada, as well as revenue guidance.
That said, the company exceeded analyst expectations by reporting a year-over-year revenue increase of 56% and a rise in earnings per share (EPS) of 101%. Both were higher than consensus estimates.
While there are a few concerned analysts, don't count Credit Suisse's Stephen Ju among them. Following the quarterly report, he raised his firm's per-share price target on Facebook to $500 from $480 and maintained the outperform rating. It's now the highest price target among Wall Street analysts.
Source Fool.com
