As previously reported, Monness Crespi analyst James Cakmak downgraded Facebook to Neutral from Buy after the company's quarterly results beat expectations "by virtually all measures." In fact, Cakmak told investors, "the word 'beat' is an understatement when evaluating" the company's Q2 report. However, given the high bar, he sees diminishing upside to revenue prospects, noting he is unsure if any momentum in a mix shift to mobile is sufficient to offset pressures to impression growth and that ad pricing on a like-for-like basis has the potential to temper as well. The analyst acknowledged his downgrade "may be premature, but thinks "it prudent to take some profits" at this time.