Jefferies Bumps Numbers on Facebook (FB) Post Q1; Mobile Gains at Expense of Desktop

May 2, 2013 7:56 AM EDT
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Price: $127.04 -0.4%

Rating Summary:
    49 Buy, 8 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Jefferies bumped numbers on Facebook (NASDAQ: FB) higher following Q1 results but maintained a Hold rating.

The firm's price price target goes form $30 to $31, Q2 EPS goes from $0.10 to $0.12, FY 2013 EPS goes from $0.44 to $0.50 and FY 2014 EPS goes from $0.59 to $0.68.

"Overall an in-line quarter with mobile now accounting for 30% of ad revenue, but flat / declining desktop ad revenue now looks to be a headwind. As such we are modeling revenue modestly decelerating throughout the remainder of '13. We remain bullish on several new ad products, and note engagement and user trends were at highest levels ever, addressing a chief concern," the analyst said.

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 $27.43 yesterday.

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