Facebook Inc (NASDAQ:FB) remains the talk of the Street in the wake of the stock clocking an all-time high ahead of the upcoming developers conference. Piper Jaffray research analyst Gene Munster remains bullish on the stock affirming an ‘overweight’ rating with a share price target of $92 up from $84, citing an overall increase in the Internet group multiples.
Attention shifts to the upcoming F8 conference at the Fort Mason Center in San Francisco where key talking points are expected to revolve around Oculus Rift virtual reality headset, as well as potential enhancements to video offerings on the network. The Social network also looks set to give developers insights to its Messenger program.
Munster expects Facebook to provide key updates on News Feed, Messenger Adtech, and Oculus at this year’s event. The News Feed portal could experience improvements ranging from design changes to improvements of the video platform. Messenger is also set to take center stage at this year conference as Facebook Inc (NASDAQ:FB) looks to position it as a platform similar to WeChat
There has also been talk that Facebook Inc (NASDAQ:FB) is looking to enable third-party developers to build apps that will function within the app, which could include games, premium accounts as well as rich media experiences. Bloomberg is also reporting that Facebook is working on something that will rival Twitter Inc (NYSE:TWTR)’s MoPub by allowing mobile publishers to manage their entire business on Adtech
Oculus rift remains a long-term theme for Facebook Inc (NASDAQ:FB) according to Munster with the company expected to provide updates in terms of an upgraded version and content. Researchers at JMP Securities have also increased their share price target on the stock to $97 up from $94 citing probability of big news from the upcoming conference
Shares of Facebook Inc (NASDAQ:FB) continue to trade at an all-time high in the wake of the giant social network announcing the addition of a new feature in Messenger that provides a convenient way of sending and receiving money.
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