Baird Calls Facebook (FB) Zuckerberg Interview "Largely Upbeat"
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Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Baird's Colin Sebastian was one of the first analysts to weigh in on Facebook (NASDAQ: FB) following the TechCrunch conference, where Mark Zuckerberg spoke for the fist time since the IPO debacle.
"Overall, we view his comments as largely upbeat, as the company makes progress with engagement and monetization of users on mobile platforms, a likely positive catalyst for shares," Sebastian said. "Nonetheless, Facebook remains focused on longer-term platform building rather than short-term financial performance."
Consistent with the analysts' thinking, Zuckerberg indicated that Facebook has no plans to launch a phone, but sees Search as a big opportunity, with Facebook generating more than one billion queries every day. This pressured shares of Google after-hours Tuesday, the analyst noted.
Baird reiterated its Outperform rating and price target of $37 on Facebook.
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 $18.81 yesterday, with a 52 week range of $17.55-$42.99.
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"Overall, we view his comments as largely upbeat, as the company makes progress with engagement and monetization of users on mobile platforms, a likely positive catalyst for shares," Sebastian said. "Nonetheless, Facebook remains focused on longer-term platform building rather than short-term financial performance."
Consistent with the analysts' thinking, Zuckerberg indicated that Facebook has no plans to launch a phone, but sees Search as a big opportunity, with Facebook generating more than one billion queries every day. This pressured shares of Google after-hours Tuesday, the analyst noted.
Baird reiterated its Outperform rating and price target of $37 on Facebook.
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 $18.81 yesterday, with a 52 week range of $17.55-$42.99.
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