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Here's What Wall Street Thinks About Facebook's Big Earnings Beat

By BenZinga
Financial Services

Facebook, Inc. (NASDAQ: FB) reported record profit in its fourth-quarter results while daily active user metrics grew in all geographic regions. Here is a summary of how some of the Street’s top analysts reacted to the print.

The Analysts

  • Bank Of America’s Justin Post maintains a Buy rating on Facebook with a price target lifted from $190 to $205.
  • Wells Fargo’s Robert Coolbrith maintains at Overweight, unchanged $200 price target.
  • Morgan Stanley’s Brian Nowak maintains at Overweight, price target lifted from $175 to $190.
  • BMO Capital Markets’ Daniel Salmon maintains at Market Perform, price target lifted from $163 to $169.
  • Pivotal Research Group’s Brian Wieser maintains at Sell, price target lifted from $113 to $120.
  • Raymond James’ Aaron Kessler maintains at Outperform, price target lifted from $180 to $200.
  • Loup Ventures’ Gene Munster and Will Thompson.

Shares of Facebook were trading higher by more than 11.5 percent at $167.94 Thursday morning.

See Also: How Facebook Shares Trade Following Q4 Earnings

Bank Of America: ‘Better Place’

Facebook reported solid earnings highlighted by quarter-over-quarter growth in U.S. daily active users (DAUs), which Post said eliminates an ongoing overhang. The earnings print follows a difficult 2018 when the company suffered from negative press in reaction to multiple scandals.

It appears the company is now in a “better place” today as it was last year, the analyst wrote in the note. At the company level there are few U.S. election issues to worry about in 2019 while the Street’s period of downward estimate revisions is likely over.

Wells Fargo: 3 Positives And 1 Negative

Facebook’s …

Read the full story at Benzinga.

Photo: Getty iStock

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