FB: Facebook continues rallying, IPO price in striking distance

Facebook continues rallying, IPO price in striking distance • 11:02 AM

• Facebook (FB +3%) is now up 38% since delivering its blowout Q2 report (I, II), and is closing on its IPO price of $38.
• EPS estimates have soared since the report, as analysts strike a more bullish tone. The 2013 consensus has risen to $0.71 from $0.57, and the 2014 consensus to $0.94 from $0.78.
• That still leaves the company trading at 34x 2014E EPS after backing out $10.3B in cash/investments. Facebook's huge sales, R&D, and capex investments have much to do with its multiples.

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FB price at time of publication: $36.50. Check FB price now »

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