Acxiom rebounds 6.6% on signs Facebook may rethink policy [Seeking Alpha]
ACXIOM (ACXM)
Last acxiom earnings: 8/9 04:05 pm
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Source: Seeking Alpha
Acxiom rebounds 6.6% on signs Facebook may rethink policyAcxiom (NASDAQ:ACXM) -- whose stockslid by double digits after Facebook announced it was phasing out some third-party data usage -- isup 6.6% on inklings that Facebook might reconsider the policy change.Acxiom CEO Scott Howe says in ablog post to "trust that common sense will ultimately prevail.""We’ve seen some signs that Facebook is reconsidering the initial policy they issued last week on data imports in light of advertiser concerns that will have an economic impact," Howe writes. "There are many talented and smart people at Facebook. And if they take action on this feedback, it would be a smart move for them and good news for the industry."Stephens' Brett Huff agrees, saying advertisers will likely still buy Acxiom's data, but individually rather than through Facebook. He's an incremental buyer on recent weakness, staying Overweight with a price target of $32, implying 39% further upside. (h/t Bloomberg)See all stocks on the
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