Facebook (FB): Lower Ad Load and Increased Hiring Cause NearTerm Concerns - Wedbush
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Wedbush analyst, Michael Pachter, reiterated his Outperform rating on shares of Facebook (NASDAQ: FB) after a company priced for perfection reported a quarter near perfection.
The analyst believes Facebook has a virtually insurmountable competitive advantage with over 1.8 billion monthly active users, over 1.2 billion daily active users, and 4 million advertisers. the analyst stated "Facebook should continue its rapid growth overseas, and should expand monetization of under-penetrated Instagram, WhatsApp and Messenger over the coming years. Facebook' initiatives position the company for long term growth, which we anticipate to continue for the next decade. In summary, we believe Facebook is a great company, period."
No change to the price target of $162.
Shares of Facebook closed at $127.17 yesterday.
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