World News – GB – Facebook Share Price: Third Quarter Results Snapshot

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We take a look at the recent performance of the social media giant as well as how analysts currently view the stock

While social media giant Facebook (FB) is expected to release its third quarter results this Thursday, October 29, we’re taking a look at some of the key things investors and traders should know ahead of these results

Despite an advertising boycott that sparked widespread media concern earlier this year, analysts remained extremely bullish on Facebook – with the community of sellers giving the stock an average buy rating, according to MarketWatch

This ad boycott, for reference, has seen a number of high profile companies including: Coke, Procter & Gamble, Samsung, Walmart, Diageo, CVS Health and Verizon cut ad spend on the platform. form in reaction to Facebook’s response to a number of significant social issues

The average price target on FB is currently $ 29832 per share – also according to MarketWatch – which suggests that analysts expect further hikes from current price levels

As with a number of high-profile tech companies – including Microsoft and Amazon – analysts appear to be increasingly optimistic about the social media giant’s prospects over the past month, a number of banks investments increasing their price targets or increasing their ratings on Facebook Since the beginning of October and with regard to Facebook, we have seen:

While the advertising boycott staged earlier this year didn’t deter sellers from liking the Facebook stock, it appears to have had just as little impact on perceptions of the larger marketplace of the giant. technology, with stock up 35% since the start of the year

For the second quarter of FY20, Facebook exceeded Street’s expectations for revenue, profits and user growth, on a year-over-year basis:

Interestingly, while Facebook is often faced with a story of declining usage, the social media giant again posted solid growth in its daily and monthly user stats, reporting daily active users (DAU ) from 1 to the third trimester79 billion (up 12%) and monthly active users (MAU) out of 270 billion (up 12%)

« Facebook’s Q2 2020 DAU and MAU Reflect increased engagement as people around the world took shelter and used our products to connect with the people and organizations that matter to them at heart, ”said the company

Facebook is currently trading at an income multiple of around 34x, slightly above the 23x income multiple of the Nasdaq Index

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Spread betting and CFDs are complex instruments and come with a high risk of losing money quickly due to leverage

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Global news – UK – Facebook share price: overview of third quarter results


SOURCE: https://www.w24news.com

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