Facebook Rallies on Needham Mobile Hopes

Shares of Facebook

rallied on Monday, up over two percent, after analysts at Needham raised their price target on the stock to $33 from $25. The analysts cited expectations for increased monetization of Facebook on the mobile platform. The company's struggle to monetize mobile -- users accessing the website primarily through smartphones and tablets -- has plagued the stock since it has gone public. Many have cited Facebook's mobile failure as a key reason for the stock's decline. Shares of Facebook traded near $27 on Monday.