Facebook (FB) will present its reports on Thursday after the session closed. They will also host a conference call with investors.
Investors may be optimistic about the return of the online advertising market, but the Covid-19 pandemic has left its mark on Facebook’s business. Although more people use its services for chatting, sharing photos and talking during global blockades, the company’s sales growth has been hurt.
RBC Capital Market analyst Mark Mahani wrote in a statement to clients that his team expects political advertising to account for up to 6% of the company’s revenue in North America in the third and fourth quarters. He also noted that Apple’s decision to delay the introduction of new ad tracking technology should also benefit businesses.
Mahaney also writes that the features of the Facebook Marketplace and Social Commerce are aspects of the company’s business that investors need to keep a close eye on. Mahani predicts that by 2025, trade revenues could reach $ 4.9 billion to $ 8 billion.
Of analysts covering Facebook, 47 valued stocks for purchase, six for hold and three for sale. The average target price is $ 299.43, which suggests an increase of about 9%.
Our expectations: In the event of an adjustment to the accumulation zone, $ 264-269 will give a chance to open long positions.
Alternative scenario: Breaking and staying below this level will initiate a deeper adjustment.
Junior Trader Mert MustafaVarchev Absolute Trader
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