Facebook Partners with Ray-Ban to Unveil New Smart Glasses

Facebook (FB) has teamed up with Ray-Ban to launch a new set of smart glasses, Ray-Ban Stories, that can capture life’s spontaneous moments. Ray-Ban Stories is the latest piece of innovation designed to capture photos and videos and share adventures. One can also listen to music and take phone calls with the glasses.

Facebook is a U.S. tech company that develops products that help people connect and share with friends and family through mobile devices and computers.

The smart glasses come equipped with a 5MP camera capable of taking photos and recording up to 30-second videos hands-free using the Facebook Assistant voice command. LED lights on the side will signal whenever one is taking pictures or recording videos. Integrated, open ear speakers and three microphones ensure that the smart glasses deliver voice and sound transmission for calls and videos.

Paired with the new Facebook View app, Ray-Ban Stories make it easy to share captured photos and videos with friends and social media. It is also possible to save all the captured content on a phone’s camera roll for editing and sharing. (See Facebook stock charts on TipRanks)

The Ray-Ban Stories smart glasses are going for $299, with customers able to choose from 20 style combinations. Currently, they are available for purchase online and in select stores across the U.S., Australia, Canada, Ireland, Italy, and the U.K.

Last month, Arete Research analyst Rocco Strauss downgraded Facebook to a Hold from Buy with a $381 price target. This implies that shares are fully priced at current levels.

According to the analyst, Facebook is heavily reliant on advertising pricing, which could come under pressure. Consequently, the analyst expects the stock to move sideways before the company is able to monetize its other platforms, like Reels.

Consensus among analysts is a Strong Buy based on 23 Buys, 4 Holds, and 1 Sell. The average Facebook price target of $420.07 implies 11.13% upside potential to current levels.

FB scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.