Facebook (FB) Price Target Raised to $95 at FBN Securities

FBN Securities maintained an Outperform rating on Facebook (NASDAQ: FB) and raised its price target to $95.00 (from $90.00). Analyst Shebly Seyrafi said Q1 results were generally positive.

"The company reported FQ1 revenue only slightly below consensus (hurt by FX) but 55% Y/Y CC advertising revenue growth with mobile growing by over 80% Y/Y was quite impressive. FB’s MAU of 1.441B, up 13% Y/Y, was higher than consensus of 1.43B, while its engagement rate (DAU/MAU) grew to 65.0% from 63.9% in FQ4 (which was the first Q/Q decline in some time). Advertising ARPU of $2.34, however, came in lower than consensus of $2.45, and there were notable decelerations in ARPU growth across all geographies. Therefore, we regard the report as slightly positive," said Seyrafi.

For an analyst ratings summary and ratings history on Facebook click here. For more ratings news on Facebook click here.

Shares of Facebook closed at $84.63 yesterday.

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