Cantor Fitzgerald Increased Facebook's PT Noting Amplified Ad Load

In a report published Monday, Cantor Fitzgerald analyst Youssef Squali reiterated a Buy on

and increased the price target from $63.00 to $65.00. Squali noted that the ad load significantly picked up during the Holiday season to approximately 10% versus the approximate 5% reported in the third quarter of 2013. The analyst commented that the this year's increase "seems more amplified with bigger brands and a greater mix of higher-priced click-to-play video ads." Cantor Fitzgerald raised overall ad revenue estimate from $2.106 million to $2.183 million and increased mobile ad revenue from $1.165 million to $1.206 million. According to comScore's November Mobile Metrix data, time spent on all mobile devices such as smartphones and tablets increased 5.2% M/M to 100.7B minutes and smartphone usage increased 46.6% Y/Y to 85.9B minutes. Facebook closed at $55.12 on Friday. Shares have traded up as high as 5.81% at $58.32.