UPDATE: BTIG Downgrades Facebook (FB) to Sell, Monetization Tension
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Price: $25.75 -1.9%
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Rating Summary:
25 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Trade FB Now!
(Updated - October 8, 2012 9:04 AM EDT)
BTIG downgraded Facebook (NASDAQ: FB) from Neutral to Sell with a price target of $16.00.
Analyst Richard Greenfield said they have grown increasingly concerned with Facebook's mobile monetization approach. "We see a growing tension between the Facebook user experience and monetization, particularly as the collapse of payment revenues has left Facebook with only one major "lever to pull" – advertising."
The analyst notes that while mobile ads perform significantly better than desktop ads this is driven by the fact that they occupy much more screen and because of "fat-finger" clicks.
The firm cut 2012 revenues to $4.9 billion from $5.0 billion and 2013 from $5.9 billion to $5.6 billion. 2012 adjusted EBITDA was raised to$2.675, alghouth organic adjusted EBITA was lowered to $2.482 billion from $2.539 billion. In 2013, they are adjusted EBTIDA to $3.051 billion, and on an organic basis, reducing from $3.145 billion to $2.971 billion.
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 $20.91 yesterday, with a 52 week range of $17.55-$42.99.
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BTIG downgraded Facebook (NASDAQ: FB) from Neutral to Sell with a price target of $16.00.
Analyst Richard Greenfield said they have grown increasingly concerned with Facebook's mobile monetization approach. "We see a growing tension between the Facebook user experience and monetization, particularly as the collapse of payment revenues has left Facebook with only one major "lever to pull" – advertising."
The analyst notes that while mobile ads perform significantly better than desktop ads this is driven by the fact that they occupy much more screen and because of "fat-finger" clicks.
The firm cut 2012 revenues to $4.9 billion from $5.0 billion and 2013 from $5.9 billion to $5.6 billion. 2012 adjusted EBITDA was raised to$2.675, alghouth organic adjusted EBITA was lowered to $2.482 billion from $2.539 billion. In 2013, they are adjusted EBTIDA to $3.051 billion, and on an organic basis, reducing from $3.145 billion to $2.971 billion.
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 $20.91 yesterday, with a 52 week range of $17.55-$42.99.
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