Goldman Sachs Is Bullish On Facebook

Goldman Sachs added to the positive sentiment about Facebook on Wall Street, boosting its 12-month share-price target for the social network to $38 from $35.

According to MarketWatch, Goldman Sachs cited ads in Facebook’s news feed, as well as its new Gifts offering.

Goldman Sachs analysts wrote in a research note, as reported by MarketWatch, that Gifts could generate $20 million to $45 in payments revenue that is not currently included in their fourth-quarter estimates, which it projected as $1.49 billion in revenue and earnings per share of $0.14. The analysts also wrote:

We believe our estimate of $404 million in revenue from news feed ads may prove too conservative.

Related Stories
Mediabistro Course

Content Marketing 101

Content Marketing 101Almost 60% of businesses use some form of content marketing. Starting December 8, get hands-on content marketing training in our online boot camp! Through an interactive series of webcasts, content and marketing experts will teach you how to create, distribute, and measure the success of your brand's content. Sign-up before November 10 to get $50 OFF with early bird pricing. Register now!