Facebook Inc (NASDAQ:FB) reported financial results for the quarter ended September 30, 2016.

“We had another good quarter,” said Mark Zuckerberg, Facebook founder and CEO. “We’re making progress putting video first across our apps and executing our 10 year technology roadmap.”

Third Quarter 2016 Financial Highlights*

 

Third Quarter 2016 Operational Highlights

  • Daily active users (DAUs) – DAUs were 1.18 billion on average for September 2016, an increase of 17% year-over-year.
  • Mobile DAUs – Mobile DAUs were 1.09 billion on average for September 2016, an increase of 22% year-over-year.
  • Monthly active users (MAUs) – MAUs were 1.79 billion as of September 30, 2016, an increase of 16% year-over-year.
  • Mobile MAUs – Mobile MAUs were 1.66 billion as of September 30, 2016, an increase of 20% year-over-year.

Third Quarter 2016 Other Financial Highlights

  • Mobile advertising revenue – Mobile advertising revenue represented approximately 84% of advertising revenue for the third quarter of 2016, up from approximately 78% of advertising revenue in the third quarter of 2015.
  • Capital expenditures – Capital expenditures for the third quarter of 2016 were $1.10 billion.
  • Cash and cash equivalents and marketable securities – Cash and cash equivalents and marketable securities were $26.14 billion at the end of the third quarter of 2016. (Original Source)

Shares of Facebook are falling nearly 7% to $118.69 in after-hours trading Wednesday. FB has a 1-year high of $133.50 and a 1-year low of $89.37. The stock’s 50-day moving average is $128.61 and its 200-day moving average is $121.26.

On the ratings front, Facebook has been the subject of a number of recent research reports. In a report released today, Credit Suisse analyst Stephen Ju assigned a Buy rating on FB, with a price target of $170, which represents a potential upside of 34% from where the stock is currently trading. Separately, on the same day, J.P. Morgan’s Doug Anmuth assigned a Buy rating to the stock and has a price target of $175.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Stephen Ju and Doug Anmuth have a yearly average return of 15.9% and 14.9% respectively. Ju has a success rate of 72% and is ranked #24 out of 4173 analysts, while Anmuth has a success rate of 66% and is ranked #23.

The street is mostly Bullish on FB stock. Out of 27 analysts who cover the stock, 26 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $161.84, which represents a potential upside of 27% from where the stock is currently trading.