Facebook Frenzy Continues: Tech Weekly
NEW YORK (TheStreet) -- The Facebook frenzy continued this week, as the social networking giant caused yet more commotion ahead of its IPO later this month.
With the Facebook IPO imminent, Wall Street analysts are flocking to rate the social networking phenomenon.
Several analysts, including Wedbush's Michael Pachter, put ratings on Facebook, noting that the company holds tremendous amounts of data that it could turn into major revenue. One analyst went so far as to say Facebook could have as much as 65% upside.
Sterne Agee analyst Arvind Bhatia noted that advertising is a $600 billion market, and Facebook is playing the role of disruptor thanks to its 900 million users. Other factors include Facebook's ability to monetize mobile, its placement in China and the company's potential to grow average revenue per user.
Facebook started its IPO roadshow this week, kicking off in New York City, then heading up to Boston. CEO Mark Zuckerberg, COO Sheryl Sandberg and CFO David Ebersman attended the New York event, while Sandberg and Ebersman represented the company in Boston.
Facebook is expected to price its IPO on Thursday after the close of trading and will start trading Friday morning on the Nasdaq under the ticker symbol "FB," pending Securities and Exchange approval.