Goldman Sachs Maintains a 'Buy' on Facebook (FB); Raising Estimates; More Positive Predisposition
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Price: $26.25 +0.46%
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade FB Now!
Goldman Sachs maintains a 'Buy' on Facebook (NASDAQ: FB) price target of $42.00.
Analyst, Heather Bellini, said, "After concerns that the company would fall short of 2Q expectations, Facebook delivered solid top line results...Ad revenue posted the big upside surprise, coming in at $992mn (+28% yoy) and well ahead of even the unadjusted consensus number of $948mn (adjusted $921mn)...Despite the big concern related to Zynga’s (Nasdaq: ZNGA) results, FB generated $192mn in payment revenue versus consensus of $198mn."
"As a result of monetization improvements, we now see CPM growth in 2012/2013 of 10%/13% (prior: 3%/5%). Because of this, we raised our 2012 revenue forecast from $4.85bn to $5.00bn (2013 from $6.59bn to $6.68bn). On the EPS front, we are now modeling 2012/2013 of $0.50/$0.65 (prior: $0.48/$0.64)."
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 $26.85 yesterday, with a 52 week range of $25.52-$42.99.
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Analyst, Heather Bellini, said, "After concerns that the company would fall short of 2Q expectations, Facebook delivered solid top line results...Ad revenue posted the big upside surprise, coming in at $992mn (+28% yoy) and well ahead of even the unadjusted consensus number of $948mn (adjusted $921mn)...Despite the big concern related to Zynga’s (Nasdaq: ZNGA) results, FB generated $192mn in payment revenue versus consensus of $198mn."
"As a result of monetization improvements, we now see CPM growth in 2012/2013 of 10%/13% (prior: 3%/5%). Because of this, we raised our 2012 revenue forecast from $4.85bn to $5.00bn (2013 from $6.59bn to $6.68bn). On the EPS front, we are now modeling 2012/2013 of $0.50/$0.65 (prior: $0.48/$0.64)."
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 $26.85 yesterday, with a 52 week range of $25.52-$42.99.
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