Which Of These Facebook Analysts Is Not Like The Others?
Yesterday we showed how out of a universe 21 'analysts', just one ended up being correct on ZNGA. The trick part of the question was that the 'analyst' in question was actually a computer quant model. Today, we look at FB whose price has just tumbled to a new all time post-IPO low with a $23 handle. And just like with ZNGA today, where BTIG's Richard Greenfield ended up apologizing for his horrible call, something tells us tomorrow we will get quite a few more apologies too, not least from Greenfield again whose Neutral call will hardly be "good enough" for a stock that has now lost over a third of its value since its market cap.
From Telsey Advisory Group's (?) Thomas Forte's $49 target to Erlan Abdikarimo of IFG Content with his seemingly over-accurate $24.62 target, here is the 38 analysts complteley unbiased perspectives on the illustrious social media site's stock. Intriguingly, the average target price among them all is $37,74 - just below the IPO price.