Facebook (FB) Falls as Another Lock-Up Expiration Looms; a Buying Op?
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Price: $196.64 --0%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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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Another day, another Facebook (Nasdaq: FB) IPO lock-up expiration.
Shares of Facebook are lower Monday, a few days before a multi-million share lock-up expiration is set to go off. On November 14th, lock-ups totaling 804 million shares will expire. Though widely anticipated, Monday's price action suggests investors remain skittish heading into the event.
Analysts see potential weakness on the lock-up expiration as a buying opportunity. Following the social media juggernaut's better-than-expected third quarter results, analysts at Goldman Sachs noted "As fears over the lockup subside, we believe the market will focus more on the company's fundamentals and Advertising growth, which we forecast will accelerate in CY13 to 35% from 33%." They rate shares at Buy with a $35 price target.
Facebook last traded at $19.01, down 1 percent.
Shares of Facebook are lower Monday, a few days before a multi-million share lock-up expiration is set to go off. On November 14th, lock-ups totaling 804 million shares will expire. Though widely anticipated, Monday's price action suggests investors remain skittish heading into the event.
Analysts see potential weakness on the lock-up expiration as a buying opportunity. Following the social media juggernaut's better-than-expected third quarter results, analysts at Goldman Sachs noted "As fears over the lockup subside, we believe the market will focus more on the company's fundamentals and Advertising growth, which we forecast will accelerate in CY13 to 35% from 33%." They rate shares at Buy with a $35 price target.
Facebook last traded at $19.01, down 1 percent.
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