Facebook Analysts Mostly Stay Loyal to Social Networking Giant
Shares of Facebook (NASDAQ: FB) dropped as much as six percent early on Thursday, but rebounded throughout the morning. In early afternoon trading, shares were down only one percent.
The company's earnings report and guidance were both fairly solid, but mobile ad revenue appeared sluggish. Further, headcount was up significantly, as the company appeared to be in a heavy mode of investment.
A few analysts downgraded Facebook, but most stuck by the company, reaffirming Buy ratings.
- Jefferies downgraded Facebook to Hold from Buy and cut its price target from $32 to $30.
- Sterne Agee reiterated its Buy rating and $37 price target.
- Hudson Square reiterated its Hold rating.
- Goldman Sachs reiterated its Buy rating and $40 price target.
- Wedbush reiterated its Outperform rating and $35 price target.
- Cantor Fitzgerald maintained its Buy rating and raised its price target to $35.
- Topeka reiterated its Buy rating and $40 price target.
- Bank of America Merrill Lynch reiterated its Buy rating and $35 price objective.
- Oppenheimer reiterated its Outperform rating and $33 price target.
- JP Morgan reiterated its Overweight rating and $35 price target.
- Citi downgraded Facebook to Neutral and maintained its $30 price target.
- Deutsche Bank reiterated its Buy rating but lowered its price target from $40 to $37.
- Morgan Stanley reiterated its Overweight rating and $34 base case.
- Piper Jaffray maintained its Overweight rating and $38 price target.
Latest Ratings for FB
|Apr 2016||JP Morgan||Maintains||Overweight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.