Cantor Maintains Buy On Facebook Ahead Of 3Q Results
In a research report released Monday, Cantor analyst Youssef Squali assigned a Buy rating on Facebook (NASDAQ:FB) with an $82 price target. The report comes ahead of the company’s third-quarter earnings, which will be reported on October 28.
Squali wrote, “We expect FB to report strong results on Tues, 10/28, in line with cons. estimates, with Y/Y revenue growth of ~55% and EBITDA margin of ~65%. FB continues to be a top pick for us, given its position as the largest/most engaged mass-reach Internet platform for advertisers, unmatched targeting potential, and very potent monetization formats. Video ads, in particular, should start moving the needle more meaningfully from here, just in time for the holiday shopping season.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Youssef Squali has a total average return of 28.9% and a 70.2% success rate. Squali has a 65.3% average return when recommending FB, and is ranked #3 out of 3347 analysts.