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Social Stocks Gaining Momentum – FB, ZNGA, YELP, GRPN, LNKD

Facebook Inc (NASDAQ:FB) struck a deal with online restaurant booking service OpenTable Inc (OPEN) that will allow users to reserve tables at restaurants via a Facebook app, as the world’s No. 1 social network continues to expand its mobile services. In an announcement on its website, Facebook said the feature would be available on its mobile pages for more than 20,000 OpenTable restaurant customers across North America.

Shares of Facebook Inc (NASDAQ:FB) shares down -0.73% to $38.22 in current session with current trading volume of 900.00 shares.

Zynga Inc (NASDAQ:ZNGA) has grown exponentially over the past five years as it produced popular games, including Zynga Poker and Farmville, and integrated itself tightly into Facebook, the source of roughly 86% of its overall revenue in 2012.

Shares of Zynga Inc (NASDAQ:ZNGA) shares fell -2.00% to $2.94 in current session. In FY2013, Zynga posted weak financial results, with a 24.4% decline in revenue and a steep drop in adjusted operating income.

Social reviewer Yelp Inc (NYSE:YELP) is up huge so far this year, recently topping the $50 per share threshold. Much of the investor optimism is due to mobile revenue growth, but the company still faces threats from rivals like Google  Inc (NASDAQ:GOOG) , who tried to acquire Yelp some years back. As Yelp transitions to mobile, it will rely less on Google Inc (NASDAQ:GOOG) for traffic, which is a good thing.

Groupon Inc (NASDAQ:GRPN) surged 22% on Aug. 9, after the company named co-founder Eric Lefkofsky CEO. Lefkofsky had been serving as interim CEO since former CEO Andrew Mason was ousted in February. Earnings came in at $0.02 per share, down from the $0.08 it earned in the prior year quarter but in line with analyst estimates. Revenue rose 7% to $608.7 million, topping the consensus estimate of $606 million.

Stock of Groupon Inc (NASDAQ:GRPN) decreased -0.28% to $10.58 in current session.

Shares of LinkedIn Corp (NYSE:LNKD) rose Monday to an all-time high after investment bank Needham Co. raised its rating on the social network to a buy rating from hold.

Needham Analyst Kerry Rice based the upgrade on “unexploited growth opportunities,” and set a price target of 280. Shares of LinkedIn Corp (NYSE:LNKD) were up 2.7% in midday trading in the stock market Monday, near 239.


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Mystic Maggie

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