Axiom Reiterates Buy on Facebook Inc on the Back of Strong Results From Video Ads
In a research report issued today, Axiom analyst Victor Anthony reiterated a Buy rating on Facebook Inc (NASDAQ:FB) with a $105 price target, as video on Facebook is going “through the roof” in terms of the engagement. Shares of Facebook closed today at $78.93, up $1.36 or 1.75 percent.
Anthony noted, “According to Facebook’s marketing partner Ampush, advertisers who use video ads are seeing strong results and Facebook is laser focused on the video ad opportunity. Also, mobile app install ads have more room to grow and there is an upward trend in pricing. In addition, advertisers are starting to dig into their search budgets and shifting to Facebook. The trend is not pervasive but worth watching.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Victor Anthony has a total average return of 18.1% and a 70.3% success rate. Anthony has a 51.3% average return when recommending FB, and is ranked #65 out of 3511 analysts.