Facebook share price: Company updates search functionality

on Dec 10, 2014

iNVEZZ.com, Wednesday, December 10: Facebook Inc (NASDAQ:FB), the world’s biggest social media company, has announced a major update to its search functionality that will allow users to find posts that have been shared with them on its service. The tech giant announced the changes in a blog post on its website on Monday:

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“Today we’re updating Facebook Search to make it easier to find the posts that have been shared with you,” Tom Stocky,Facebook’s vice president of search, wrote. He added that Search at Facebook was a “long-term effort” and described the new update as “a step toward helping you tap into the experiences and perspectives of your friends”.
The user feedback gathered through the Graph Search beta, which launched last year, has shown that the most important search-related feature was the ability to find posts that have been seen before. With the new update, users will be able to search for words or phrases they remember from old posts. The existing semantic Graph Search features, which allow people to search using phrases like “Photos of my friends”, will also remain in place.
The update is designed with mobile in mind, to address a common request for better search facility on smartphones. Stocky said that the changes would be rolled out this week, “in US English on iPhone and desktop”.
In yesterday’s trading, Facebook shares closed 0.4 percent higher at $76.84. The shares have soared 40.6 percent since the start of the year.
According to the Financial Times, the 42 analysts offering 12 month price targets for Facebook have a median target of $88.00, with a high estimate of $105.00 and a low estimate of $57.54. The current consensus estimate has it that the company will outperform the market. This consensus has been maintained since May 29, 2012, the FT notes.


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