Facebook (FB): Raising Estimates Ahead Of Earnings - Nomura
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
Nomura Securities analyst, Anthony DiClemente, reiterated his Buy rating on shares of Facebook (NASDAQ: FB) but slightly raised his 3Q estimates ahead of Facebook’s earnings report on Wednesday, November 2nd.
The higher estimates are driven by checks with ad buyers where demand and spend levels continue to grow. Sustained growth in Facebook’s number of advertisers, checks on Facebook app downloads and engagement trends, and the analyst's expectation that FX could provide an incremental ~300bps to reported revenue growth in 3Q16. This ad revenue growth estimate goes higher by 150bps to 57.9% YoY.
The analyst stated "we continue to anticipate modest YoY operating margin expansion to 54.7%. While our 3Q estimates imply a deceleration in growth rate from 2Q16, we are modestly ahead of Street consensus".
No change to the price target of $155.
Shares of Facebook closed at $127.88 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Union Pacific (UNP) PT Raised to $102 at Stifel Following 4Q Report
- IBM (IBM): Closer Look Shows The - Jefferies
- Skyworks Solutions (SWKS) PT Raised to $105 at Oppenheimer Following 1Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View
Related EntitiesNomura, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!