While Nasdaq has gained 8.23% year to date, leading social media companies, except Facebook Inc. (FB) with only 5.17% gain, were up much more significantly, including Pandora Media Inc. (P) with 42.28% increase, LinkedIn Corp. (LNKD) with 53.03% surge and Zynga Inc. (ZNGA) with 52.35% advance, as seen from the chart below.
Source: Google Finance
Facebook, with a market cap of $62.25B, is the world’s largest online social network with over 1.06 billion total users and around 618 million daily active users.
FB was upgraded by Argus from hold to buy with a price target of $36.00 on April 5, 2013. On the same day, Oracle Investment Research initiated coverage on FB with a strong buy rating and a price target of $38.00, and the analysts said,
We think the new ‘Facebook Home’ hit a home run with their new HTC rollout. Incorporating Facebook as the ‘front and center’ theme to drive user interface on mobile devices.
Analysts currently have a mean target price of $33.20 for FB, suggesting 21.21% upside potential based on the closing price of $27.39 on April 5, 2013.