What Analysts Are Saying About Facebook After Earnings
January 31, 2019 by Chris LangeAfter Facebook Inc. (NASDAQ: FB) released its most recent quarterly results after the markets closed on Wednesday, investors cheered, sending shares up massively. Analysts seemed to agree, with a majority hiking their price targets in response.
24/7 Wall St. has included some highlights from the earnings report, as well as what analysts are saying about Facebook after the fact.
The social media giant said that it had $2.38 in earnings per share (EPS) and $16.9 billion in revenue, compared with consensus estimates that called for $2.19 in EPS and $16.4 billion in revenue. The same period of last year reportedly had EPS of $1.44 on $12.97 billion in revenue.
During the latest quarter, daily active users totaled 1.52 billion on average for December 2018, an increase of 9% year over year, and monthly active users totaled 2.32 billion, an increase of 9%.
Mobile advertising revenue represented roughly 93% of advertising revenue, up from 89% in the fourth quarter of 2017.
Here’s what analysts had to say after the report:
- Oppenheimer has an Outperform rating and raised its price target to $195 from $185.
- Nomura has a Neutral rating and raised its price target to $172 from $148.
- Canaccord Genuity reiterated a Buy rating and raised its target price to $200 from $180.
- Morgan Stanley reiterated an Overweight rating and raised its target to $190 from $175.
- Cowen reiterated an Outperform rating and raised its price target to $195 from $184.
- RBC reiterated a Positive rating with a $200 price target.
- Deutsche Bank reiterated it as a Buy and raised its target to $200 from $195.
- Stifel maintained a Hold rating with a $155 price target.
- SunTrust maintained a Buy rating with a $210 price target.
- Barclays maintained an Overweight rating and a $210 price target.
- JPMorgan reiterated an Overweight rating and a $210 price target.
- Mizuho maintained a Buy rating with a $210 price target.
- Piper Jaffray reiterated an Overweight rating and raised its target to $195 from $190.
Shares of Facebook were last seen up about 12% at $168.64 on Thursday, in a 52-week range of $123.02 to $218.62. The consensus price target is $184.67.
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