The Global X Social Media ETF (the SOCL), which tracks social media stocks, is off by 2% on Wednesday, with components such as Twitter lower by 1% and LinkedIn down 4%. Minutes before it released its earnings, Facebook was down 2.6%.
According to Thomson Reuters, the average price target of 40 analysts is $62. On CNBC’s Street Signs’ Talking Numbers segment, Ron Dottin, Senior U.S. Quantitative Analyst at RBC Capital Markets, believes that is an entirely attainable target.
Related Ticker: Complete List Of Global X Social Media Index ETF (SOCL) Holdings
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