Consumers Clamoring for Facebook's (FB) Oculus Rift, Survey Shows

Piper Jaffray analyst Gene Munster commented on Facebook (NASDAQ: FB) virtual reality product Oculus Rift saying a survey suggests consumers are eager for the product and are willing to pay up for it.

"Our recent survey suggests consumers are impressed with the current developers version of Oculus Rift, and are willing to pay for it," Munster said. "We believe that virtual and augmented reality will become a greater focus for Facebook investors over the next 5 years, and impact Facebook's business model in 5 to 10 years."

"Last week we gave a five minute one on one demo of Oculus with 40 consumers in Minneapolis (Oculus' and Samsung's Gear VR Headset). On average consumers rated it an 8.6 out of 10 (with 10 being the best) and on average would pay $342 to buy the device," Munster noted.

He added, "As we get closer to a consumer launch (currently for developers) of Oculus Rift, which we expect in the Dec-15 quarter, we believe that Oculus will begin to highlight more functionality of the product as well as third party apps, which we believe will accelerate adoption."

The firm maintained an Overweight rating and price target of $82 on FB.

For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.

Shares of Facebook closed at $78.45 yesterday.

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