Evercore Partners Maintains an 'Equal Weight' on Facebook (FB); Solid Start; Detailed Review
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Price: $45.08 --0%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 20 | New: 20
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Evercore Partners maintains an 'Equal Weight' on Facebook (NASDAQ: FB) price target of $34.00.
Analyst, Ken Sena, said, "Facebook reported better than expected revenues and EBITDA. Revenues came in at $1.18 billion, exhibiting y/y growth of 32.3% versus our estimate of $1.11 billion and the Street's $1.15 billion, which called for 24.4% growth and 28.4% growth, respectively. Adjusted operating income was $363 million (30.7% margin), above our $330 million, (or 29.7% margin) estimate."
"Our $34 target is based on a 12-18 month time horizon and weighs several scenarios including the potential for lower mobile monetization and for plateauing desktop user growth. However, even with these downside scenarios factored in, we see material long-term upside to current shares. Nevertheless, near-term, given impending lock-up expirations (where we see over 1 billion shares becoming freely tradable by November) and uncertainties with regards to mobile, particularly for Payments, we rate shares Equal-Weight."
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, Ken Sena, said, "Facebook reported better than expected revenues and EBITDA. Revenues came in at $1.18 billion, exhibiting y/y growth of 32.3% versus our estimate of $1.11 billion and the Street's $1.15 billion, which called for 24.4% growth and 28.4% growth, respectively. Adjusted operating income was $363 million (30.7% margin), above our $330 million, (or 29.7% margin) estimate."
"Our $34 target is based on a 12-18 month time horizon and weighs several scenarios including the potential for lower mobile monetization and for plateauing desktop user growth. However, even with these downside scenarios factored in, we see material long-term upside to current shares. Nevertheless, near-term, given impending lock-up expirations (where we see over 1 billion shares becoming freely tradable by November) and uncertainties with regards to mobile, particularly for Payments, we rate shares Equal-Weight."
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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