Facebook Inc (NASDAQ:FB) which recently unveiled the Facebook at Work platform has just released another feature which it believes would appeal to the mobile audience. It is releasing a standalone app called Facebook Groups. This would allow users to customise their groups into a separate application on their mobile phones which is being seen as a huge positive for social media consumers. In a statement released by the company, it said, that with Facebook Groups, the company wants its 1.5 billion active users to manage their social lives better.
Also, it would allow users to have a customizable experience which it believes would draw many more to the fray. Many analysts on the street are seeing this as a huge positive for the company, as they believe that the Facebook groups would allow advertisers to connect directly with users of their products which would help in higher monetization not just for brands but also for a company like Facebook Inc (NASDAQ:FB). Also, the move shows that the company is working towards entering into all aspects of social life of the user, with release of Facebook at Work and now with Facebook Groups. Analysts believe that it would also allow the company to have higher retention rates which is a huge positive going forward.
When looking at the daily charts for the company, the stock which has been in a strong uptrend continues to see buying interest at all dips which is bullish sign. The company currently trades above its 200 day moving average at $68.87 which is a positive. Analysts on the street have a consensus buy recommendation on the stock with a median price target of $88. There are 14 strong buys, 22 Buys and 7 hold recommendations on the stock at the current moment.