Facebook (FB) Likely to Feel Pressure From iOS14 and Tough Comps in 2H - William Blair
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William Blair analyst Ralph Schackart reiterated an Outperform rating on Facebook (NASDAQ: FB) after Ad revenue beat the Street by roughly 5%, with daily active users (DAUs) and monthly active users (MAUs) both above Street expectations by approximately 1%. Consistent with management’s prior outlook, DAUs in the United States and Canada declined sequentially as a result of some normalization from heightened levels due to the pandemic.
The analyst stated "In the first half of 2021, Facebook will lap a period of growth that was negatively affected by reduced advertising demand during the early stages of the pandemic. Thus, year-over year growth rates in total revenue are expected to remain stable or modestly accelerate sequentially during the first and second quarters of 2021. In the second half of the year, Facebook will lap periods of increasingly strong growth, which is expected to put significant pressure on year-over-year growth rates". Regarding stock direction, he stated "In our view, commentary on potential macroeconomic headwinds in the coming year, including the impact of Apple's (NASDAQ: AAPL) iOS 14, is limiting share upside in the after-market".
Shares of Facebook closed at $269.00 yesterday.
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