From zero to hero. That’s what Facebook is looking to do between a rough start on Wall Street in 2012 and a triumphant mobile presence in 2013.
According to the latest industry analysis and some corresponding predictions, Facebook’s status among marketers in 2013 will rise in lockstep with the social network’s mobile ad revenue.
On Wednesday, an analyst with J.P. Morgan upped his price target for Facebook better than 20% to $35 per share. That’s higher than the former price target of $29.
“We believe Facebook’s advertising revenue will accelerate at least through [the first quarter] and we are raising our advertising estimates 6% to 7% for 2013 and 2014,” analyst Doug Anmuth wrote in a report to investors today, according to Forbes.
The analyst notes that Samsung Mobile used Facebook ads during the launch of its Galaxy S3 smartphone and generated about $129 million in sales attributable to Facebook, “delivering an ROI of 13x on Samsung’s $10 million of Facebook ad spend.”
As a result of this somewhat renewed Wall Street optimism, shares of FB have spiked approximately 3% so far today.