Can Facebook Inc (NASDAQ:FB) Results Push Stock Higher?
Facebook Inc (NASDAQ:FB), the social media networking giant is expected to announce its fourth quarter FY13 operations results on January 29. In the run up to the results announcements, a host of analysts and rating agencies have been busy closely scrutinizing the S&P 500 index tracked firms finances and its overall operational strengths and weaknesses. The initial positive consensuses opinion that is emerging has started to drive the stock value further upwards in the past couple of weeks.
Deutsche Bank – Latest Upgrade To Buy
The most recent upgrade that the Facebook Inc (NASDAQ:FB) stock received was from analysts at Deutsche Bank. They have recommended a buy rating on the stock and have predicted that the strong last quarter performance is going to trigger the next upward rally for the stock.
Ross Sandler the Deutsche Bank who authored the report has been quoted as saying, “Unlike last quarter, we view sentiment as more balanced heading into 4Q results which should provide the next catalyst to the upside, hence we would add to positions. Engagement continues to increase broadly for Facebook, owing to the strong footprint in mobile. Monetization is firing on all cylinders according to our checks, and we wouldn’t be surprised to see ad revenue growth re-accelerate potentially in 4Q.”
Stock Been On The Move Last Month
In fact the stock of Facebook Inc (NASDAQ:FB) has posted a 7.8 percent increase in its market value during last week’s trading, adding substantially to the close to 19.8 percent increase it experienced at the browsers during December. This sustained forward movement in the stock is being attributed to the bullishness analysts have been voicing about Mark Zuckerberg and team’s ability to up the revenue of the firm over the short and medium term. At close of business on January 27, Facebook Inc (NASDAQ:FB) stock was trading at $57.92 per share, just 1.13 percent below its 52 week high price point.