Analysts Await 'Zucker-Speak' At Facebook's Developer Conference
Facebook Inc (NASDAQ: FB) analysts will listen intently Wednesday as Chief Executive Mark Zuckerberg offers a performance update and potentially unveils new products.
The 29-year-old Zuckerberg's appearance will mark the start of Facebook's eighth-annual developers' conference in San Francisco.
"We expect investors to react positively," said Piper Jaffray's Gene Munster, who maintained an Overweight rating and $92 target.
Brean Capital's Sarah Hindlian expects Facebook will "play a bit of catch-up" with Twitter Inc (NYSE: TWTR) at its conference, perhaps announcing products similar to the advertising tools that Twitter has been rolling out recently.
There's a "dearth of viable and measurable mobile adverting tools" comparable to Twitter's MoPub product aimed at helping manage advertising inventory, according to Hindlian.
Also a primary topic: Facebook's Parse development platform for mobile apps.
"The goal appears to be to embed Facebook within mobile applications and collect wider off-Facebook user data," Hindlian said.
Updates on messenger initiatives, WhatsApp, and Instagram advertising are likely at the conference, according to Hindlian, who maintained a Buy rating and $96 target on Facebook.
Besides innovations and stand-alone products, JMP's Ronald V. Josey said he'll be listening for engagement trends and product updates with a focus on events and publisher partners.
Josey maintained an Outperform rating and boosted his target 3 percent to $97, citing recent channel checks suggesting that Facebook continues to gain market share in advertising.
Image credit: Brian Solis, Flickr
Latest Ratings for FB
|Oct 2016||Credit Suisse||Maintains||Outperform|
|Sep 2016||JP Morgan||Maintains||Overweight|
|Sep 2016||Loop Capital||Initiates Coverage on||Buy|
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