Stifel Remains Sidelined on Facebook (FB) Ahead of 1Q Release
Stifel reiterated a Hold rating and $168.00 price target on Facebook (NASDAQ: FB) ahead of the company's 1Q earnings report. Analyst Scott Devitt forecasts 1Q revenue to increase +42% y/y to ~$11.43B (versus the Street’s estimate of $11.41B), with ad revenue increasing +43% y/y.
Should recent negative engagement trends in North America and Europe persist, Stifel believes that forward engagement estimates could prove optimistic. Overall, Devitt continues to see heightened risk around regulation, consumer trust, and consumer usage levels of the platform.
Facebook is scheduled to report 1Q:18 results on Wednesday, November 1, after market close.
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 $166.28 yesterday.