Wall Street Starts To Turn Against Facebook

Wall Street has not been clicking on the like button for Facebook this week, as analysts Carlos Kirjner of Sanford C. Bernstein & Co. and Richard Greenfield of BTIG lowered their ratings for the social network’s stock.

Wall Street has not been clicking on the like button for Facebook this week, as analysts Carlos Kirjner of Sanford C. Bernstein & Co. and Richard Greenfield of BTIG lowered their ratings for the social network’s stock.

Forbes reported that Kirjner cut his rating on Facebook to “market perform” from “outperform” and lowered his target price to $27 per share from $33, saying that mobile advertising and Facebook Exchange are not growing quickly enough, and writing in a research note:

Facebook’s mobile inventory and Exchange still present significant untapped monetization opportunities, but much of this upside is now in consensus (estimates), and the pace at which these have evolved over the past two quarters justifies some caution.

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