Numerous Analysts Adjust Targets On Facebook Following Earnings

Facebook Inc (NASDAQ: FB) announced positive financial results on Tuesday, with an EPS of $0.43 on revenues of $3.2 billion, beating estimates by 7.5 and 2.89 percent, respectively.

On the other hand, shares of Facebook are down sharply on Wednesday as the company offered weak guidance due to rising costs.

Analysts at multiple firms adjusted the investment ratings on Facebook following earnings.

Price Target Cuts:

Pivotal:from $106 to $103
Topeka: from $100 to $96
Piper Jaffray: from $90 to $82
Susquehanna: from $88 to $86
JMP Securities: from $92 to $85
Cowen: from $90 to $86
CRT: from $90 to $84
Oppenheimer from $90 to $88
Stifel: from $99 to $94
Cantor: from $82 to $80
Baird: from $82 to $80
Janney Capital: from $82.50 to $78
JP Morgan: from $90 to $85
UBS Capital: from $95 to $92
Credit Suisse: from $90 to $88

Price Target Raises:

Atlantic: from $84 to $90
Canaccord: from $84 to $88

Amid the drop in share price, Goldman Sachs analysts believe “the current weakness in Facebook shares is excellent buying opportunity”