Facebook Stock Affirmed Outperform at JMP on More Activity and Wider Ad Base [TheStreet.com]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: TheStreet.com
JMP Securities analyst Ronald Josey reiterated his outperform rating on Facebook(FBGet ReportHe affirmed his share-price target at $215.Facebook should benefit from the same factors SnapSNAPPhotography platform Snap said last week that revenue jumped 44% in the first quarter from a year earlier, operating cash flow more than doubled and daily active users increased 20%.As for Facebook, its unveiling last Friday of its new free group video chat shows that its platform is primed to generate sustained engagement growth as its digital living room strategy rolls out, Josey said.Also last week, Facebook said it invested $5.7 billion in Reliance Jio, the digital technology arm of Reliance Industries, India’ largest private-sector company.That investment highlights Facebook’s long-term approach and could lead to further investment in India and elsewhere in the world, Josey said.Morningstar analyst Ali Mogharabi puts his fair value estimate at the same $215.“While we expect covid-19 to lower
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