Facebook share price: Company launches standalone Groups app

on Nov 19, 2014

iNVEZZ.com, Wednesday, November 19: Facebook Inc (NASDAQ:FB), the world’s largest social media company, has launched a new standalone application that aims to make the social network’s Groups feature easier to use on mobile devices.

The feature is quite popular, with more than 700 million people using it on a monthly basis. However, until now it has been “buried” in the main app, which reduces the quality of the experience, especially on mobile. The new app is designed to change that.
In yesterday’s trading, Facebook shares closed 0.1 percent higher at $74.34. The company’s stock has gained 36 percent since the start of the year.
Shirley Sun, the product manager for Groups, commented yesterday in a blog post: “Today, we’re introducing a new Facebook Groups app that helps people share faster and more easily with all the groups in their life.”
With the new app, users will be able to see all their Facebook Groups in one place, making it a lot easier for them to access different groups. In addition, the app offers a simple way for creating new groups.
Facebook Groups also comes with a Discovery tab, which recommends new groups for users to join, based on their interests.
With Facebook Groups, the Menlo Park-based company continues its multi-app strategy, which has already resulted in the launch of a number of standalone applications in the past year. In one of its biggest moves as part of this strategy, Facebook stripped the messaging functionality off its main app and produced a separate app called Facebook Messenger. It seems that the company is now adopting a similar approach to Groups, but there is one major difference:
“”You can still use Facebook Groups in the main Facebook app and on desktop””
“You can still use Facebook Groups in the main Facebook app and on desktop, and over time we’ll continue to make those experiences faster and better, too,” Sun wrote in the blog post.
*h*Analysts on Facebook*h*
According to the Financial Times, the 41 analysts offering 12 month price targets for Facebook have a median target of $88.00, with a high estimate of $103.00 and a low estimate of $57.54. As of November 18, 2014, the consensus forecast amongst 69 polled investment analysts covering Facebook has it that the company will outperform the market. The same consensus estimate has been maintained since the sentiment of investment analysts improved on May 29, 2012, the FT notes.
**As of yesterday’s US close buy Facebook shares at $74.34**
**As of yesterday’s US close sell Facebook shares at $74.34**

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