Needham & Company Reiterates Buy on Facebook (FB) Ahead of 3Q15 Results
Needham & Company reiterated a Buy rating and $115.00 price target on Facebook (NASDAQ: FB) ahead of the company's 3Q15 earnings results. FB will report 3Q15 earnings after the market closes on Wednesday, November 4, 2015 and will host a management conference call at 5 pm ET.
Analyst Laura Martin commented, "We maintain our 3Q15 estimates for FB at Revenue of $4.4B (up 37% y/y), Non-GAAP Operating Income of $2.5B (up 37% y/y), and Non-GAAP EPS of $0.49 (up 12% y/ y). We are buyers of FB based on our belief that digital markets are “winner take all markets” and that FB is particularly well positioned owing to its always-registered environment with real names, its closed platform, global scale, ubiquitous distribution, and optionality of new revenue streams (video, payments, commerce, etc) on the core FB site as well as revenue growth potential from FBs other key apps including Instagram WhatsApp, and FB Messenger. We maintain our Buy rating and $115 Target Price, 25% above current trading levels."
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 $92.40 yesterday.