Brean Capital Reiterates Buy on Facebook (FB) Ahead of 2Q15 Results

Brean Capital reiterates a Buy rating and $108.00 price target on Facebook (NASDAQ: FB) ahead of 2Q15 results. Analyst Sarah Hindlian expects FB to report relatively in-line earnings.

Facebook is expected to report its 2Q15 earnings results on 7/29.

Hindlian commented, "We expect Facebook to print a relatively in-line Q2’15, significantly impacted by FX on a reported basis while underlying core business trends will reflect strength from ramping video and Instagram ads, offset to a lesser extent by a slight downtick in gaming CPM’s. We believe that quarterly results are less relevant than in the past, with most eyes fixed on the future, as Facebook begins to ramp Instagram monetization in earnest late this year and heating up in FY’16, reflecting our long-term bullish view on the stock. Heading into numbers, we are trimming our top-line estimate by ~2% as we remain bullish on the stock long term but are exercising a degree of caution into the print given rising expectations following our O&O Monetization report and FX headwinds. We note that FX will be a ~9% headwind to reported growth in Q2’15."

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 $89.76 yesterday.

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• Data I/o Corp (DAIO) Misses Q2 EPS by 7c
• COPT Defense Properties (CDP) Reports In-Line Q1 EPS; offers guidance