Key Points on Facebook (FB) From Nanigans Quarterly Advertising Report - Raymond James
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Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 12 | New: 7
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Raymond James analyst Aaron Kessler reiterated his Outperform rating on shares of Facebook (NASDAQ: FB). Nanigans, a leading Facebook marketing partner with over $600 million in spend, published its quarterly Global Facebook Advertising Report which coincided with the analyst's own channel checks and offered him comfort in his advertising estimate of +14%. He believes Facebook will exceed Street estimates of +11.5% q/q.
Key points from the report included:
1) strong ad growth among top 20 advertisers at 200% y/y and return on ad spend (ROAS) increased 75% y/y
2) mobile ad spend continues to gain share representing 80% of Facebook spend
3) dynamic ad adoption remains strong from e-commerce advertisers
4) cost per 1,000 impressions (CPMs)/cost per click (CPCs) rebounded from 1Q with CPMs up 10% globally
No change to Outperform rating or price target of $140.
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 $120.61 yesterday.
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