Needham & Company Maintains a 'Buy' on Facebook (FB); Mobile Monetization Robust Over Time
Tweet Send to a FriendGet Alerts FB Hot Sheet
Price: $25.76 --0%
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 20 | New: 17
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 20 | New: 17
Trade FB Now!
Needham & Company maintains a 'Buy' on Facebook (NASDAQ: FB) price target of $40.00.
Analyst, Laura Martin, said, "The FB story for 2Q12 was all about mobile growth and its negative near-term impact on monetization. FB is the most downloaded app across every mobile platform. Mobile monthly average users (MAUs) hit 543 million in June, up 55mm Q/Q and up 67% y/y. Mobile user growth was identical to total user growth, at 55mm. Mobile users now represent 57% of total FB users. Mobile users are 20% more likely to use FB on any given day."
"We expect FB’s mobile revenue profile to mirror this as advertisers try to catch up with consumer adoption of mobile platforms. Because we believe that mobile monetization will be robust over time, we would suggest that FB’s rapid mobile growth should be viewed as a valuation positive, contrary to the consensus view."
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Laura Martin, said, "The FB story for 2Q12 was all about mobile growth and its negative near-term impact on monetization. FB is the most downloaded app across every mobile platform. Mobile monthly average users (MAUs) hit 543 million in June, up 55mm Q/Q and up 67% y/y. Mobile user growth was identical to total user growth, at 55mm. Mobile users now represent 57% of total FB users. Mobile users are 20% more likely to use FB on any given day."
"We expect FB’s mobile revenue profile to mirror this as advertisers try to catch up with consumer adoption of mobile platforms. Because we believe that mobile monetization will be robust over time, we would suggest that FB’s rapid mobile growth should be viewed as a valuation positive, contrary to the consensus view."
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- Merck's (MRK) Suvorexant Faces Challenges at FDA
- UBS Raises PT on Tesoro (TSO)
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS ViewRelated Entities
Needham & Company
Login with Facebook
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!
