Yahoo Finance Today's Research Reports on Stocks to Watch: Facebook and Snap
NEW YORK, NY / ACCESSWIRE / October 12, 2017 / Both Facebook and Snap had it good this week after a Credit Suisse analyst upped his price targets on both stocks. Shares of Snap hit the highest they have ever seen since debuting in the market back in March. Facebook also made a big announcement revealing a new portable virtual reality headset called the "Oculus Go" that will ship early next year.
RDI Initiates Coverage on:
Facebook, Inc.
http://www.rdinvesting.com/report/?ticker=FB
Snap Inc.
http://www.rdinvesting.com/report/?ticker=SNAP
Facebook, Inc.'s shares closed up 0.67% on Wednesday with a little over 11 million shares traded. The company made a huge announcement yesterday revealing that it would be launching a new virtual reality headset called the "Oculus Go" that would allow use without the need for a separate computer to operate. CEO Mark Zuckerberg talked about the new headset at a conference for virtual reality developers. The new device will have a $199 price tag and is expected to ship in early 2018. The company's chief technology officer Mike Schroepfer commented in an interview, "I think you're going to see these a lot on airplanes, because it's way better than the back-of-the-seat monitor or my phone." It was also encouraging that this week analyst Stephen Ju of Credit Suisse raised his price target on Facebook from $190 to $235. It is the highest forecast on the company out of 40 analysts according to FactSet. In more news, the social media giant also announced that it would be adding three floors and roughly 100,000 more square feet to its Chicago office.
Access RDI's Facebook, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=FB
Snap Inc.'s shares closed up 11.44% on nearly 41 million shares traded on Wednesday. Yesterday's day of trading was the best for the company since it made its debut on the market back on March 2nd. Traders were encouraged by Credit Suisse analyst Stephen Ju upping his price target on the stock from $17 to $20. The average price target on the stock out of 35 analysts who are covering the company is $15.26. According to Ju, the company's recent ad products and its Snap Publisher, "should bolster the incentive to test the platform." He also wrote in his note, "While we concede that it has taken longer than anticipated, we submit that Snap is taking the necessary steps in the background to reduce friction against incremental ad budget allocations."
Access RDI's Snap Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=SNAP
Our Actionable Research on Facebook, Inc. (NASDAQ: FB) and Snap Inc. (NYSE: SNAP) can be downloaded free of charge at Research Driven Investing.
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