3 Tech Stocks Update: Facebook Inc (NASDAQ:FB), Amazon.com Inc (NASDAQ:AMZN), Pandora Media Inc (NYSE:P)

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By Chris Hillman on July 25, 2014 Technology & Software

Facebook Inc (NASDAQ:FB), one of the biggest social networking site based in California, United State, has been in the limelight for quite some time now. The company’s stocks were up in anticipation of its earnings reports and the shares are still high. Shares of Pandora Media Inc. (NYSE:P) and Amazon.com Inc (NASDAQ:AMZN) have also gained hype ahead of their financial reports.

Shares of Facebook Inc (NASDAQ:FB) increased by 6 percent and reached the value of $75.32, after touching the record figures of $76.74 when the company posted its second quarter’s earnings reports. The company reported a profit of $791 million with 30 cents as the earnings per share. The company’s total revenues for the quarter were recorded to be at $2.91 billion. For the same quarter, last year, the company’s revenues were $1.81 billion and its profits were $333 million with an EPS of 13 cents. The company gained around 62 percent of its revenues from mobile advertising and its capital spending increased by 40% over the year.

Raymond James, an investment advisory firm, gave the company’s stocks a rating of ‘outperform’ with a target price of $80. Aaron Kessler, an analyst at Raymond James said that Facebook Inc (NASDAQ:FB) is on a rise as its mobile ads will continue to have strong demand in future, which can be considered as a modest strength of the company.

On the last trading day, July 24, 2014, Facebook Inc (NASDAQ:FB) started its shares at a price of $75.96 and closed at a price of $74.98. The company’s intraday range was recorded to be from $74.51 to $76.74. The company has a market cap of 192.25 billion with a price to earnings ratio of 81.42.

Facebook reached an all time high this past week.

Coming to the shares of Amazon.com Inc (NASDAQ:AMZN), the company saw an increase of $2.63 in its shares prices ahead of its quarterly reports. The company’s prime service has gained much popularity over the years, and rumors have it that it alone makes up to 45 percent of the company’s merchandise volume.

On the last trading day, the company began its stocks at a value of $359.98 and closed at a slightly decreased price of $358.61. The intraday range for the company’s stocks was recorded to be from $358.52 to $364.85. Amazon.com Inc’s (NASDAQ:AMZN) total market capitalization is reported to be at $165.02 billion whereas its price to earnings ratio is said to be at 561.63. Coming to the 52 week range of the company, it has a high of $408.06 and a low of $279.33.

Amazon unfortunately missed EPS and fell 10% today.

Pandora Media Inc (NYSE:P), an internet radio music company, is also about to release its financial reports. The shares of the company are up in anticipation of good reports. The company, in the last trading session, opened the stocks at a price of $27.95 and closed with an upward jump at a value of $28.72. The company’s range through the day was recorded between $27.57 and $28.84. Moreover, Pandora Media Inc (NSYE:P) has a market capitalization of 5.9 billion.