Facebook (FB) Results 'Very Positive', PT Raised - BMO Capital
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Price: $44.68 --0%
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 1
Rating Summary:
46 Buy, 17 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 5 | Down: 11 | New: 1
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BMO Capital raised its price target on Outperform-rated Facebook (NASDAQ: FB) price target of $37.00 (from $33.00). The firm raised FY 2014 EPS from $0.80 to $0.90, implying 32% growth.
Analyst Dan Salmon comments: "Very positive. The things that impressed us the most were 1) monetization: global advertising ARPU came in at $1.40, well ahead of our $1.20 estimate; 2) cost control in the face of revenue outperformance: the company maintained guidance for 50% non-GAAP operating expense growth in 2013, but in the face of the significant revenue outperformance, we see this as a clear positive; 3) consistent usage by US teens: CEO Zuckerberg directly addressed the #1 bear point on the stock straight out of the gate in his prepared remarks; 4) only 5% of News Feed items are ads, addressing bear point #2, concerns about ad overload; and 5) 88-100 million users on average during Primetime TV hours; this provides an enormous opportunity for second screen advertising initiatives."
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 $26.51 yesterday.
Analyst Dan Salmon comments: "Very positive. The things that impressed us the most were 1) monetization: global advertising ARPU came in at $1.40, well ahead of our $1.20 estimate; 2) cost control in the face of revenue outperformance: the company maintained guidance for 50% non-GAAP operating expense growth in 2013, but in the face of the significant revenue outperformance, we see this as a clear positive; 3) consistent usage by US teens: CEO Zuckerberg directly addressed the #1 bear point on the stock straight out of the gate in his prepared remarks; 4) only 5% of News Feed items are ads, addressing bear point #2, concerns about ad overload; and 5) 88-100 million users on average during Primetime TV hours; this provides an enormous opportunity for second screen advertising initiatives."
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 $26.51 yesterday.
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