The Financial Industry Regulatory Authority capped the total payout by Nasdaq parent Nasdaq OMX Group to financial firms over the technical difficulties that plagued Facebook’s May 2012 initial public offering at $41.6 million, down from the $62 million the stock exchange initially set aside to compensate affected brokers, Reuters reported.
The announcement by Instagram Thursday that it would begin incorporating advertising into its feed prompted Sterne Agee Analyst Arvind Bhatia to raise his target price for shares of Instagram parent Facebook to $58 apiece from $50.
Sterne Agee pressed the like button on Facebook in a research note Monday, rating its stock “buy” and setting a target price of $37 per share, and citing the social network’s mobile progress and growth by its Facebook Exchange real-time ad-bidding product, Barron’s reported.
Facebook’s work week began with some good news by way of Wall Street, as Stifel Nicolaus & Co. Analysts Jordan Rohan, Michael Purcell, and Nathaniel Brogadir upgraded the social network’s stock to “buy” from “hold” in a research note, MarketWatch reported.
Facebook received some lukewarm news on Wall Street courtesy of analyst Jason Helfstein of Oppenheimer & Co., who reiterated an “outperform” rating on the social network’s stock and lowered his target price to $32 per share from $33.