Facebook (NASDAQ: FB) is one of the largest technology and social media companies in the world. As of October 13, 2023, Facebook’s stock price opened at $147.34 per share. This article will provide an overview of Facebook’s current stock price, key statistics, and factors that can impact the company’s valuation.
Facebook’s Current Stock Price
Facebook’s stock trades on the NASDAQ stock exchange under the ticker symbol “FB”. At the market open on October 13, 2023, Facebook’s stock price opened at $147.34 per share. This represents a decrease of 2.3% from the previous day’s closing price of $150.72 per share.
Here are some key stats on Facebook’s current stock price (as of October 13, 2023):
- Open price: $147.34 per share
- Previous close: $150.72 per share
- 52-week high: $381.49 per share
- 52-week low: $143.06 per share
- Market cap: $396.16 billion
- P/E ratio: 13.37
- EPS (ttm): $11.01
Facebook’s stock price has seen significant declines so far in 2022, mirroring the declines in many technology and growth stocks. However, Facebook remains one of the largest and most profitable technology companies globally.
Factors Impacting Facebook’s Stock Price
There are several key factors that can influence Facebook’s stock price:
Financial Performance
As one of the largest publicly traded technology companies, Facebook’s quarterly financial results and guidance are closely watched by investors. Metrics like revenue, earnings per share, monthly active users, and ad prices can all impact Facebook’s valuation. If financial results disappoint Wall Street forecasts, it can negatively impact Facebook’s share price.
Competitive Landscape
Facebook competes in the digital advertising and social media markets with companies like Google, Twitter, Snapchat, TikTok and others. Increased competition for ad revenue or engagement could hurt Facebook’s growth prospects. Alternatively, maintaining dominance over competitors could support Facebook’s valuation.
Regulatory Issues
With billions of users globally, Facebook often faces scrutiny from regulators related to data privacy, antitrust concerns, election interference, and more. Major regulatory actions that limit Facebook’s business practices could present a risk to its valuation and stock price.
Reputation and Controversies
As one of the world’s largest social networks, Facebook frequently deals with controversies related to misinformation, data leaks, hate speech, and other issues. Major reputational damage from scandals could hurt user growth and engagement, presenting risks to the stock price.
Leadership Changes
Facebook’s stock price is heavily influenced by the leadership of founder and CEO Mark Zuckerberg. If Zuckerberg were to step down as CEO or sell a significant portion of his ownership stake, it could significantly impact investor sentiment.
Macroeconomic Conditions
Broader economic factors like GDP growth, inflation, interest rates, and currency fluctuations can all impact Facebook’s performance. During periods of economic uncertainty, advertisers often reduce spending which can hurt Facebook’s revenue.
Technical Analysis of Facebook’s Stock Price
Analyzing Facebook’s stock chart and technical indicators can also provide insights into price trends and future momentum.
Price Chart
Facebook’s 1-year price chart shows the stock falling over 50% year-to-date in 2022, with increased volatility in recent months:
| Date | Open | High | Low | Close | Volume |
|---|---|---|---|---|---|
| 10/13/2022 | $147.34 | $149.12 | $145.18 | $146.01 | 18,394,200 |
| 10/12/2022 | $152.48 | $153.57 | $149.51 | $150.72 | 19,131,440 |
| 10/11/2022 | $146.79 | $152.19 | $146.59 | $152.18 | 23, separately 206,622 |
Moving Averages
Facebook’s 50-day moving average is currently around $162, while the 200-day moving average is approximately $196. With the current price below both averages, this indicates a strong bearish momentum. The stock would need to break above these moving averages to reverse the downtrend.
Support and Resistance
Facebook has near-term support around $140, which aligns with the 52-week low. The next key support level is around $130. Resistance is seen around $160, then at the 52-week high up near $380.
Relative Strength Index
Facebook’s relative strength index (RSI) is currently around 41. This is below the 70 overbought and 30 oversold threshold levels. The depressed RSI reading reflects the stock’s negative price momentum this year.
Volume Analysis
Facebook’s trading volume has risen in recent months, likely due to higher volatility. The elevated volume indicates increased interest in the stock from investors.
Analyst Recommendations for Facebook
Professional analysts closely follow Facebook’s stock and provide recommendations. Here are some latest analyst views:
- Morgan Stanley – Price target $205, overweight rating
- Wells Fargo – Price target $275, overweight rating
- Raymond James – Price target $215, outperform rating
- BofA Securities – Price target $196, buy rating
- Credit Suisse – Price target $180, outperform rating
The average analyst price target is around $215, representing upside of over 45% from current levels. Most analysts maintain bullish outlooks given Facebook’s market dominance and growth potential for ads and metaverse initiatives.
Conclusion
Facebook’s stock price has declined significantly in 2022 as part of the broader sell-off in tech stocks. However, the company remains highly profitable with billions in cash on hand. At around 13x forward earnings, Facebook trades at a historically low valuation which could make it an attractive long-term investment if the growth story rebounds. Near-term direction will likely depend on upcoming quarterly results, guidance, and macroeconomic conditions. But analysts predominantly remain bullish on the stock’s return potential over the next 12 months.