Wedbush Assumes Facebook (FB) at Outperform

Wedbush analyst Michael Pachter assumes coverage on Facebook (NASDAQ: FB) with a Outperform rating and a price target of $115.00.

Pachter commented, "Despite its phenomenal growth over the past 10 years, we expect Facebook to continue to grow its active user base over the next 10 years. The company has taken its Instagram user base from an estimated 30 million MAU in mid-2012 to over 400 million MAU today. Similarly, its WhatsApp user base has grown from 400 million MAU in late 2014 to over 800 million today. Facebook's Messenger service has grown to over 700 million MAU in less than a year. We expect the company to grow the engagement and monetization of users on these three platforms rapidly over the next several years, while continuing to grow its ARPU globally as it delivers an increasingly media-rich suite of advertisements."

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 $90.95 yesterday.

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