Rosenblatt Remains Bullish Ahead of Facebook's (FB) 4Q Earnings
Rosenblatt reiterated a Buy rating and $125.00 price target on Facebook (NASDAQ: FB) ahead of the company's 4Q earnings report. Facebook is scheduled to report 4Q15 results after the market close this Wednesday. Rosenblatt says they will not be surprised if Facebook again projects higher total spending growth (vs. revenue growth) in 2016, as was the case early last year when the company reported 4Q14 results and provided some 2015 outlook comments.
Analyst Martin Pyykkonen commented, "Facebook is scheduled to report 4Q15 results after the market close this Wednesday. We estimate 42% total revenue growth to $5.475B with $3.47B adjusted EBITDA (63% margin) and $0.67 non-GAAP EPS. For full year 2016 we estimate 35% total revenue growth to $23.62B with $14.97 adjusted EBITDA (63% margin), pending any higher than expected spending plans for this year as Facebook gives any outlook on its conference call on Wednesday."
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 $97.94 yesterday.