Facebook Stock Expected To Keep Soaring On Ad Revenue Growth
MENLO PARK (KCBS) - Facebook's catching a tailwind from a CitiBank research note, that's lifting the company's price target by six bucks to $97.
The note praises Facebook's ad revenue growth and says it should be sustained by new video ads as well as eCommerce and payments potential.
After a couple of years struggling to convince Wall Street that it could make a meaningful move in mobile ads, Facebook's shares have soared 30-percent higher over the past twelve months.
The social network posted revenue of $3.85-billion dollars in the fourth quarter, with mobile ads making up 69-percent of its total ad sales.
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