Facebook Target Gets a Boost and 3 Social Media Stocks See Action
Facebook, Inc. (NASDAQ:FB) price target has been increased by Needham & Co. from $25 to $33, 27 percent higher than current trading levels. According to Monday’s research note, the analysts decided to increase their 2013 revenue estimate to $6.5 billion from $6.27 billion and their earnings-per-share estimate has been raised to 65 cents a share from 59 cents. The firm cited expectations for strong mobile revenue growth along with an upside coming from Facebook’s global platform.
LinkedIn Corporation (NYSE:LNKD): Staples Inc., which is the second largest internet retailer, decided to team together with LinkedIn, which is the most prominent professional network globally, to launch SUCCEED: Small Business Network. The online forum is expected to act as a platform for networking, advice, and content that is intended mainly for small business professionals, according to LinkedIn. In SUCCEED, Staples and LinkedIn are creating an online community that enables small businesses to connect and collaborate. The group has provided small business professionals with the opportunity to network and discuss important issues, along with sharing success stories and professional hurdles via an online forum that has been created especially for them.
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Groupon, Inc. (NASDAQ:GRPN) acquired CommerceInterface as it attempted to improve the manner in which its e-commerce business operates as attempts to expand globally. CommerceInterface provides a Web-based platform has been designed as a way to help manufacturers, distributors, and retailers facilitate online sales, interact with vendors, and manage their operations. Shares recently traded at $4.82 premarket, which is the same as Friday’s market close.
Zynga, Inc. (NASDAQ:ZNGA) launched landing pages which are precursors to real money online gambling in the United Kingdom. Zynga introduced its social online gambling web site with the tag lines like “Casino For The People” and “Poker For The People.” This has been launched as marketing efforts and will be viewable in America, but when the sites go live they will only be accessible to those those who are eighteen years old and over and resident in the United Kingdom.
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