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Facebook, Inc. (FB) Message Board

  • wwwhead222 wwwhead222 Sep 24, 2012 12:26 PM Flag

    From $42 to $37 - Goldman cuts its 12 month FB target

    Quite a difference between Barrons and Goldman opinions/estimates!!!

    Facebook (NASDAQ: FB) had its price target lowered by Goldman Sachs from $42.00 to $37.00 in a research report released on Monday morning.

    “Due to movements in the comp group share prices over the past few months, we are adjusting our P/FCF multiple to 65X from 80X and our EV/EBITDA multiple to 20X from 25X. As a result, we are lowering our 12 month price target on Facebook from $42 to $37 (equal weights of DCF, P/FCF, EV/EBITDA). Our earnings and revenue estimates remain unchanged. At $23, Facebook is trading at 13x our CY13 EV/EBITDA forecast, which compares to our comp group mean of 25X.

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    • Between Goldman's $37 target and this news that FB is moving full-speed ahead with monetizing mobile, I'm kind of surprised to see a 9% selloff today! That Barrons hatchet-job seems to be swaying more opinion today. I ask myself, really, FB is worth 10% less today than its last trading day because of some "new" revalations from Barrons??? Doesn't pass the smell test, IMO.

      Facebook goes live with Bango for mobile payments through carriers

      The social network will now accept payments from users through carrier services in the U.S., U.K., and Germany.
      By going with Bango, Facebook might increase its chances of getting mobile customers to buy products. According to Bango, 77 percent of those who click "buy" on a digital good and use the Bango platform will actually complete the purchase. In traditional carrier billing models, that conversion rate is closer to 40 percent, Bango claims.

      Sentiment: Buy

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