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Pompano Beach, FL -- (SBWIRE) -- 01/28/2013 -- Expert at Aaron Kessler Raymond James this morning upgraded his rating on stock of social networking giant Facebook (NASDAQ:FB) to Outperform from Market Perform, keeping a target price of $38.
But on the other hand is that Facebook (FB) is ready to launch financial earnings of Q4 on late Wednesday.
Should FB a Buy or Sell Now? Find Out Here
Kessler upgraded his revenue estimation for the quarter to $1.57 billion, before consensus at $1.50 billion. For non-GAAP profits, he observes 18 cents, over the Street target of 16 cents. He observes ad revenue for the quarter at $1.35 billion, over consensus at $1.28 billion.
Shares of Facebook Inc. (NASDAQ:FB) were boosted by positive rating upgrade by Kessler and were changing hands at $32.29 with positive change of 2.31%.
So far today, Facebook Inc (NASDAQ:FB) shares gained +2.16% to $32.22 while the stock is changing hands within a range of $31.81 – $32.43. In the past year, the stock has traded between $17.55 and $45.00. Its average daily trading volume is 65.86 million shares.
What was the Moving Force behind FB On Bullish Run? Read This Research Report
Looking at other stocks in the same industry, Rediff.com India Limited, Renren Inc and IAC/InterActiveCorp are in the gainers list. Let’s have a quick look on their Market performance.
Rediff.com India Limited (ADR) (NASDAQ:REDF) shares are up +6.93% to $3.24 while the stock is trading within the range of $2.98 – $3.39 in the current trading session. In the last 12 months, shares have floated between $1.82 and $7.98. This stock, on average, has trading volume of 142,894 shares.
Will REDF Continue To Move Higher? Find Out Here
In this session so far, Renren Inc (NYSE:RENN) shares moved up +1.44% reaching $3.53. The stock is trading in a range of $3.48 – $3.58. In the last year the stock has moved within a range of $3.00 – $7.87. The Company’s average daily trading volume is 1.96 million shares.
Why Should Investors Buy RENN After The Recent Gain? Just Go Here and Find Out
Another rival company, IAC/InterActiveCorp (NASDAQ:IACI), is trending +0.77% higher to $40.61. The stock price is hovering in range of $40.30 to $40.89. In the previous 52 weeks, shares price ranged between $38.20 and $55.57. Their average daily trading volume is 1.41 million shares.
For How Long IACI will Fight for Profitability? Read This Trend Analysis report
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