Apr 29, 2016 10:30 AM EDT
Facebook Ranks Sixth In S&P’s 500 Most Valuable, Wows Wall Street
In this earning period, analysts have coined Facebook as the "Ace Book" and called its move "Moving Beyond The Friend Zone" after solidifying its post as one of the tech industries prized gems last Wednesday's Streeuarterlyt-beating quarter results.
Facebook surpasses expectations for every mile possible, after some tech companies upset Wall street target, with shares soaring 11% to an all-time high of $120.79 and earning the company a $30 billion strike to its market cap.
Facebook now takes Johnson & Johnson position in S&P ranking. Forty-five out of 49 of the analysts covering the stock exchange rated it either "buy" or higher.
Facebook has earned more positive sentiments for its video advertising and winning drive in mobile advertising. Facebook's 1.65 billion users experience the automatic playing video in their accounts and it has also introduced more advertising on Instagram.
Facebook is positive impact with advertisers is translated with the first quarter results traction. The growth 52 percent in revenue to $5.382 billion in the first quarter tops analysts' $5.25 billion expectation, polled by S&P Global Market Intelligence.
Meanwhile, mobile contributed the 82 percent of advertising revenue in the first quarter. Expectations suggest Facebook to account for about 12 percent of the $186.81 billion global digital advertising market in 2016, according to eMarketer Research Firm.
Facebook will garner 47 percent of global digital advertising growth and 43 percent of all advertising growth outside of China in 2016, Pivotal Research estimated.
in a research report , Facebook is projected to generate very high and very profitable growth, an extremely unique combination and a forecast in plenty of strong, secular platform growth, RBC Capital analyst Mark Mahaney wrote in a research report.
Having 1.6 billion throng monthly users and more than a billion daily active users and three million advertisers, Facebook possess an "insurmountable competitive edge," says Wedbush Securities analyst Michael Pachter.
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