For Every Positive Facebook (FB) Analyst, There are Multiple Negative Ones
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Price: $45.08 -0.07%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Facebook (NASDAQ: FB) tapped new all-time lows in pre-open trading Friday as analysts continue to trash the social media juggernaut.
Today, two analysts are taking Facebook to the mat and cutting price targets - one well below the current market price.
BMO Capital slashed its price target from $25 to $15, while reiterating its Underperform rating. The firm said their check on media spending showed two negatives for every positive. They said many ad executives referenced the word 'pause' when talking about Facebook campaigns. BMO cut its Q3 revenue estimates from $1.21 billion to $1.9 billion, or flat sequentially. This flat revenue growth will led to another leg down in valuation, the firm added.
BofA/ML also cut their price target. The firm went from $35 to $23, and maintained a Neutral rating.
Today's ratings come in contrast to comments from Piper Jaffray's Gene Munster, who said Thursday that the stock offers compelling long-term opportunity.
For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.
Shares of Facebook are down 2.3 percent in pre-open trading to $18.65.
Today, two analysts are taking Facebook to the mat and cutting price targets - one well below the current market price.
BMO Capital slashed its price target from $25 to $15, while reiterating its Underperform rating. The firm said their check on media spending showed two negatives for every positive. They said many ad executives referenced the word 'pause' when talking about Facebook campaigns. BMO cut its Q3 revenue estimates from $1.21 billion to $1.9 billion, or flat sequentially. This flat revenue growth will led to another leg down in valuation, the firm added.
BofA/ML also cut their price target. The firm went from $35 to $23, and maintained a Neutral rating.
Today's ratings come in contrast to comments from Piper Jaffray's Gene Munster, who said Thursday that the stock offers compelling long-term opportunity.
For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.
Shares of Facebook are down 2.3 percent in pre-open trading to $18.65.
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