Social Media stocks were lifted by Facebook’s impressive quarterly earnings last week. Last Thursday, Facebook reached an all-time-high of $62.50 a share. The company is up over 60.0 percent since its initial public offering of $38.00 per share. Nearly 30 analysts upgraded their price targets on the social media giant Thursday. "As competitors begin to provide more in the way of customizable audience targeting, app install ads and better mobile placement, Facebook's ability to retain an edge in mobile ad quality will be key," said a note from Evercore. Here is how some social media stocks reacted Tuesday:
LinkedIn Corp. (NYSE: LNKD) shares traded in the range of $209.68 to $214.50 Tuesday before settling to close at $212.33, a decrease of 1.43percent. The stock appears to be facing some resistance at the $214.57 and $218.44 levels with some support at $211.01. Shares of LinkedIn have gained over 70.0 percent in the past year.
More information on LinkedIn and access to the free equity report can be found at: www.WallStreetFundamentals.com/LNKD
Pandora Media Inc. (NYSE: P) shares traded in the range of $34.77 to $36.03 Tuesday before settling to close at $35.80, an increase of 2.34 percent. The stock appears to have some support at the $35.30, $32.20, $31.34 and $29.83 levels. Shares of Pandora Media have gained over 210.0 percent in the past year.
More information on Pandora Media and access to the free equity report can be found at: www.WallStreetFundamentals.com/P
Twitter Inc. (NYSE: TWTR) shares traded in the range of $64.50 to $66.37 Tuesday before settling to close at $66.32, an increase of 1.64 percent. The stock appears to be facing some resistance at $73.31 with some support at the $63.80 and $57.01 levels. Shares of Twitter have gained nearly 50.0 percent since its IPO.
More information on Twitter and access to the free equity report can be found at: www.WallStreetFundamentals.com/TWTR
Yelp Inc. (NYSE: YELP) shares traded in the range of $75.19 to $78.21 Tuesday before settling to close at $77.79, an increase of 4.73 percent. The stock appears to be facing some resistance at the $80.38 and $83.69 levels with some support at $74.40 and $70.89. Shares of Yelp have gained approximately 280.0 percent year-to-date.
More information on Yelp and access to the free equity report can be found at: www.WallStreetFundamentals.com/YELP
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