Benzinga Consensus Estimate Places Facebook Closing Price near $51

The median consensus estimate of Facebook's FB closing price today, based on 15 market observers at Benzinga, was $51. Predictions varied widely, from as low as $35.00 to as high as $74.12. This widespread range of estimates is a testament to the uncertainty surrounding valuations of Facebook. Out of all 15 estimates, only two fell below Facebook's initial public offering (IPO) price of $38 dollars.

This morning, Facebook employees rang in the opening bell from their Menlo Park, CA office. Shares of Facebook are expected to begin trading on NASDAQ at 11am Eastern Standard Time today. The company's IPO of approximately $16 billion will be the largest technology IPO to date. Early indications from Europe point to an initial price for Facebook near the $70-$80 range.