Pivotal Research analyst Brian Wieser reiterated a Sell rating on Facebook (NASDAQ: FB) today and set a price target of $131. The company’s shares closed yesterday at $158.78, close to its 52-week low of $149.02.
Wieser wrote:
“We maintain a $131 YE2018 price target on the stock as well as our Sell rating. Try as we might to not write about every negative story in the press on Facebook, when several items come together in a short period of time, it seems neglectful not to write about them. Tuesday three new items (not including the details of the scale of the previously- announced data breach provided on) became known. Together, as with the myriad of other problems which have come to light over the past two years, we continue to see these issues as representative of systemic problems impacting the company.”
According to TipRanks.com, Wieser is a 5-star analyst with an average return of 11.5% and a 75.8% success rate. Wieser covers the Services sector, focusing on stocks such as Nielsen Holdings, 21st Century Fox, and Discovery Inc.
Currently, the analyst consensus on Facebook is a Strong Buy with an average price target of $204.20.
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The company has a one-year high of $218.62 and a one-year low of $149.02. Currently, Facebook has an average volume of 27.84M.
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