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Topeka Capital Markets: Investors Are Positive On Oculus' Potential Beyond Gaming

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Facebook Inc (NASDAQ: FB) disclosed in March that it acquired Oculus Rift, a virtual reality startup, for $2 billion. According to the company's website, Oculus Rift is a technology company that is “revolutionizing the way people experience video games.”

Victor Anthony of Topeka Capital Markets commented on Monday in a note to clients that the potential for virtual reality extends beyond video games and could be introduced for commercial uses.

"We demoed the Oculus Rift DK2 headset to over 75 investors over the past two weeks," Anthony wrote. "A large percentage had positive views of Oculus and saw the potential for virtual reality to evolve beyond immersive gaming and into commercial use cases that includes commerce, communication and entertainment."

Anthony did not offer a time frame of when Facebook could introduce the new technology to the market and any financial impact it may have to the company's bottom line. GameSpot reported in a blog post that the first version of Oculus Rift could be released in summer 2015 for $200 to $400.

Anthony rates Facebook with a Buy rating and $100 price target.

Latest Ratings for FB

DateFirmActionFromTo
Aug 2017SunTrust Robinson HumphreyInitiates Coverage OnBuy
Aug 2017MizuhoReinstatesBuy
Jul 2017Pivotal ResearchDowngradesHoldSell

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Posted-In: Facebook Oculus Rift Oculus Rift DK2 Victor AnthonyAnalyst Color News Analyst Ratings

 

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