Wedbush Reiterates an 'Outperform' on Facebook (FB); Raising Revenue Estimates
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Price: $196.64 --0%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 3 | New: 2
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 3 | New: 2
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Wedbush reiterates an 'Outperform' on Facebook (NASDAQ: FB) price target of $35.00 (from $44.00).
Analyst, Michael Pachter, said, "Q2 EPS beat from strong advertising revenue and better-than-expected tax rate...The revenue upside did not translate into earnings upside, as the company increased its costs in order to invest in future growth...We are increasing our FY:12 estimate for revenue to $4.91 billion from $4.75 billion to reflect better-than-expected advertising revenue in Q2, but lowering our EPS estimate to $0.41 from $0.50 to reflect higher levels of spending in the second half of the year, including on R&D and infrastructure...Well-positioned to capture additional advertising market share."
FY12 EPS estimate cut from $0.50 to $0.41 and FY13 from $0.65 to $0.55. However, Wedbush raises FY12/13 revenues to $4.907B/$6.023B.
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.
Analyst, Michael Pachter, said, "Q2 EPS beat from strong advertising revenue and better-than-expected tax rate...The revenue upside did not translate into earnings upside, as the company increased its costs in order to invest in future growth...We are increasing our FY:12 estimate for revenue to $4.91 billion from $4.75 billion to reflect better-than-expected advertising revenue in Q2, but lowering our EPS estimate to $0.41 from $0.50 to reflect higher levels of spending in the second half of the year, including on R&D and infrastructure...Well-positioned to capture additional advertising market share."
FY12 EPS estimate cut from $0.50 to $0.41 and FY13 from $0.65 to $0.55. However, Wedbush raises FY12/13 revenues to $4.907B/$6.023B.
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.
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