3 Buzzing Social Media Stocks: Facebook Expectations Soar, Zynga’s New Game, Yelp’s Strong Performance
Facebook Inc. (NASDAQ:FB): SunTrust had some bullish estimates on Facebook and slapped it with a Street-high $55 price target as the firm believes that revenues could swell to roughly $2 billion by 2017 driven by product launches like video ads, Instagram monetization, and graph search. Further, the current 20x EBITDA multiple on the firm’s 2015 expectations implies a value of $59 per share.
Zynga (NASDAQ:ZNGA): Zynga has rolled out new Scramble With Friends, an updated version of their game for iOS. In the game, players try to form words from letters that touch each other, appearing in a seemingly random grid. The game will feature more bonuses, special challenges, and additional puzzles to entice players towards the game to compete either against their friends or by themselves.
Yelp (NYSE:YELP): Analysts from Deutsche Bank and Barclays both rated Yelp a Buy in their starting coverage of the stock, citing strong gains in their mobile app. The strength of Yelp’s mobile app could allow the company to be less dependent of Google (NASDAQ:GOOG) for traffic. Due to this news, the stock soared today, hitting record highs.