July 25, 2016 1:47 PM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Justin Post of Bank of America maintained a Buy rating on
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
(NASDAQ: FB)'s stock ahead of Wednesday's second quarter earnings report.According to Post, while Facebook's growth trends likely moderated "somewhat" in the quarter on tougher comps, the company could still post upside results to current estimates.The consensus estimate is calling for Facebook to earn $0.82 per share in the second quarter on revenue of $6.01 billion. Post is modeling the company to earn $0.85 per share on revenue of $6.05 billion.Post continued that Instagram likely experienced "robust" growth trends in the quarter and new ad formats on the picture and video sharing social media platform could sustain its momentum moving forward.Meanwhile, operating expenditure (opex) controls serve as another earnings per share lever but Post isn't expecting Facebook's management team to trim its 2016 opex growth forecast. On the other hand, the US dollar strengthened since April and this may prove to be a "slightly bigger" headwind in the second half of the year.Looking past the current quarter, Post maintained a bullish view on Facebook, given: 1) a $5 billion-plus opportunity to Monetize Instagram, 2) improving and sustainable user engagement with Facebook's video and Live features, 3) new ad formats like canvas, 4) potential for opex rationalization, and 5) the potential to collect new streams of revenue from WhatsApp and Messenger.aBottom line, Facebook's stock is trading at 25x Post's 2017 earnings per share expectations which is "more attractive" than its social media peers.Shares remain Buy rated with an unchanged $145 price target and is also a "top idea" in the media sector.
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