Instagram Passes 500 Million MAU - Cowen
Get Alerts FB Hot Sheet
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Cowen analyst, John Blackledge, noted that Instagram recently passed 500MM MAUs, rising by 100MM in ~9 months, with MAU adds/day accelerating vs. prior period. The analyst raised his LT Instagram MAU forecast, which modestly boosted his Facebook (NASDAQ: FB) estimates. Also, his proprietary monthly consumer survey data demonstrates FB and Instagram's competitive strength in Social, particularly among younger demos. He now predicts Instagram MAUs will reach 986MM by '21.
No change to Outperform rating or price target of $145.
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 $116.78 yesterday.
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