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On Monday, Argus downgraded shares of Facebook
FB from Buy to Hold. Shares are down 1.09 percent to $66.99, while broader indexes recover some losses from last week.
Joseph Bonner, analyst at Argus, feels Facebook management is “again emphasizing long-term growth in the user base over the immediate monetization of existing services.”
Bonner went on to point out the company's plan “to shelter WhatsApp in order to build the user base, rather than quickly monetizing the service in the manner of some competitors.”
The analyst maintained his 2014 non-GAAP earnings per share estimate of $1.21, which is below consensus estimates of $1.26.
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