Baird Calls Facebook (FB) Zuckerberg Interview "Largely Upbeat"
Tweet
Share
E-mailGet Alerts FB Hot Sheet
Price: $44.45 +0.61%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 6 | New: 4
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 4 | Down: 6 | New: 4
Join SI Premium – FREE
Baird's Colin Sebastian was one of the first analysts to weigh in on Facebook (NASDAQ: FB) following the TechCrunch conference, where Mark Zuckerberg spoke for the fist time since the IPO debacle.
"Overall, we view his comments as largely upbeat, as the company makes progress with engagement and monetization of users on mobile platforms, a likely positive catalyst for shares," Sebastian said. "Nonetheless, Facebook remains focused on longer-term platform building rather than short-term financial performance."
Consistent with the analysts' thinking, Zuckerberg indicated that Facebook has no plans to launch a phone, but sees Search as a big opportunity, with Facebook generating more than one billion queries every day. This pressured shares of Google after-hours Tuesday, the analyst noted.
Baird reiterated its Outperform rating and price target of $37 on Facebook.
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 $18.81 yesterday.
"Overall, we view his comments as largely upbeat, as the company makes progress with engagement and monetization of users on mobile platforms, a likely positive catalyst for shares," Sebastian said. "Nonetheless, Facebook remains focused on longer-term platform building rather than short-term financial performance."
Consistent with the analysts' thinking, Zuckerberg indicated that Facebook has no plans to launch a phone, but sees Search as a big opportunity, with Facebook generating more than one billion queries every day. This pressured shares of Google after-hours Tuesday, the analyst noted.
Baird reiterated its Outperform rating and price target of $37 on Facebook.
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 $18.81 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Baird Downgrades Karyopharm Therapeutics (KPTI) to Neutral
- Canaccord Starts AEP Plantations plc (AEP:LN) at Buy
- Jefferies Downgrades Syrma SGS Technology (SYRMA:IN) to Hold
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Robert W BairdSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
