Facebook Earnings Beat With Higher Advertising Revenue

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    Super Harley

    Social media beast Facebook reported better than expected…



    When do the fines, bad privacy and business habits and investigations get investors nervous?

    Super Harley

    Facebook Inc. (NASDAQ: FB) reiterated as Buy and target price was raised to $235 from $225 at Nomura/Instinet.

    “Overall, we think the company’s outlook incorporates a fair amount of conservatism as it moves through this transition, and we continue to expect upward revisions this year,”

    Super Harley

    Baird maintains $FB at Outperform, price target lifted from $215 to $230.

    “While we anticipate some challenges from regulatory oversight and product changes, Facebook is adapting quickly (e.g., pivot to commerce/payments) and should be able to maintain above market growth rates,” Baird’s Sebastian wrote.

    Super Harley

    Needham maintains Facebook at Hold, no price target.

    Needham’s Laura Martin said. Facebook is now a target of regulators and can no longer compete on an even playing field.

    “The fact that the FTC was allowed to put such draconian restrictions on FB implies no-one in Washington was willing to stop them due to a lack of trust in FB,” Martin wrote, adding “If FB’s brand is tarnished in DC, we think it makes the company a bad business partner for anything that involves regulators.”

    Super Harley

    KeyBanc reiterated its Overweight rating on Facebook Inc. (NASDAQ: FB) and raised its target to $240 from $220.

    “We believe Facebook retains excellent opportunities to drive growth in the stories formats across Instagram, WhatsApp, and Facebook, from new ad formats, and from the broader rollout of transactional tools,”

    Super Harley

    [b][color=green]Facebook Inc. (NASDAQ: FB) reiterated as Buy and target price was raised to $250 from $230 at Jefferies

    Facebook Inc. (NASDAQ: FB) reiterated as Buy and target price was raised to $240 from $212 at Citigroup

    Facebook Inc. (NASDAQ: FB) reiterated as Buy and target price was raised to $234 from $230 at Deutsche Bank


    Facebook CEO Mark Zuckerberg Before House Financial Services Committee

    Reuters says he is expected to concede in Congressional testimony Wednesday that Facebook is “not the ideal messenger right now” for launching a cryptocurrency.

    The CEO is scheduled to appear before the House Financial Services Committee tomorrow, and in prepared remarks obtained by Reuters, Zuckerberg is planning to acknowledge the challenges his company is facing and to support the notion of delaying the launch of Libra past its current mid-2020 launch date, until U.S. regulators’ concerns are satisfied.

    “I’m sure people wish it was anyone but Facebook putting this idea forward,” he writes.

    He also plans to stress that Libra isn’t intended to compete with sovereign currencies, and is meant only to facilitate money transfers on WhatsApp and other apps.

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