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SNAP

Snap

$14.08

0.015 (0.11%)

, TWTR

Twitter

$24.32

-0.275 (-1.12%)

10:25
01/09/18
01/09
10:25
01/09/18
10:25

FBN Securities Internet/tech analyst holds analyst/industry conference call

Senior Technology and Internet Analyst Seyrafi, along with Patrick Workman, an experienced Internet executive, provide insights into the spending trends at Facebook, Snapchat, Twitter and Google on an Analyst/Industry conference call to be held on January 9 at 11 am.

SNAP

Snap

$14.08

0.015 (0.11%)

TWTR

Twitter

$24.32

-0.275 (-1.12%)

GOOG

Alphabet

$1,106.94

4.71 (0.43%)

GOOGL

Alphabet Class A

$1,114.21

3.92 (0.35%)

FB

Facebook

$188.28

1.43 (0.77%)

  • 09

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    Mar

SNAP Snap
$14.08

0.015 (0.11%)

01/08/18
01/08/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. GoPro (GPRO) downgraded to Neutral from Buy at Longbow with analyst Joe Wittine saying his channel checks confirmed the holidays missed the company's plan and late quarter $100 price cuts were not enough to save the quarter. 2. Snap (SNAP) downgraded to Hold from Buy at Jefferies with analyst Brent Thill saying he continues to have optimism around Snap's platform, but believes "fundamental execution needs to be shown" before he can be more positive on the name. 3. Cirrus Logic (CRUS) downgraded to Sector Weight from Overweight at KeyBanc with analyst John Vinh citing his "disappointment" with the current iPhone cycle and the lack of meaningful content gains until 2019. 4. Pandora (P) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Benjamin Swinburne noting that the company's core free product has not evolved meaningfully and faces continued innovation by Spotify, Apple (AAPL) and Amazon (AMZN) while also being pressured by free music available on Google's (GOOG) YouTube. 5. GrubHub (GRUB) downgraded to Neutral from Outperform at Wedbush with analyst Aaron Turner saying that while he continues to like the company's market opportunity and competitive positioning, the current peak valuation of shares accurately reflects these positive dynamics. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/08/18
SBSH
01/08/18
NO CHANGE
SBSH
Citi Q4 checks positive for Facebook and Twitter, mixed for Snap
Citi analyst Mark May says his early Q4 channel checks with two social marketing platforms, 4C Insights and Kenshoo, are positive for both Facebook (FB) and Twitter (TWTR) and mixed for Snap (SNAP). Jefferies this morning downgraded Snap to Hold from Buy. Citi's checks suggest that growth in spend across the Facebook platform remains strong and that the company's Q4 revenue could exceed consensus forecasts, May tells investors in a research note. 4C's data also suggests potential upside to Twitter (TWTR) revenue forecasts, and "potential disappointing revenue results" from Snap, May adds. While 4C just started supporting Snapchat in the second half of 2016, making its year-over-year unreliable, its data show client spend on the platform increased 22% sequentially Q4 as compared with 38% sequential growth in Q3, the analyst adds. He believes this suggests a potential Q4 revenue miss from Snap.
01/08/18
JEFF
01/08/18
DOWNGRADE
Target $15
JEFF
Hold
Snap downgraded to Hold from Buy at Jefferies
Jefferies analyst Brent Thill downgraded Snap to Hold with an unchanged price target of $15. The camera company closed Friday down 9c to $14.50. The analyst continues to have optimism around Snap's platform, but believes "fundamental execution needs to be shown" before he can be more positive on the name. Some negatives behind the app redesign could "lead to some turbulence in usage and adoption when rolled out," Thill tells investors in a research note. The analyst views the shares, currently trading at 18 times his 2018 revenue estimate, as fully valued.
01/05/18
SBSH
01/05/18
NO CHANGE
Target $1400
SBSH
Buy
Citi names Amazon top Internet pick for 2018, ups target to $1,400
Citi analyst Mark May remains bullish on the consumer Internet sector, especially over the near term. The analyst believes a "positive, tax reform fueled, business climate" should benefit the end-markets of the companies in the space. After outperformance in 2017, however, he recommends being more selective in 2018. Amazon.com (AMZN) moves up a spot to become his top-ranked pick for 2018. May sees the combination of greater than 30% sales growth, margin expansion and the current valuation as a "compelling mix." He raised his price target for Amazon shares to $1,400 from $1,250. May's most- to least-favored stocks under coverage, in order, are: Amazon, Expedia (EXPE), Facebook (FB), Priceline (PCLN), Alphabet (GOOGL), eBay (EBAY), Yelp (YELP), Twitter (TWTR), TripAdvisor (TRIP), Netflix (NFLX), GrubHub (GRUB), GoDaddy (GDDY), Despegar.com (DESP), trivago (TRVG), LendingClub (LC), Wayfair (W), Snap (SNAP), Zillow (ZG), Blue Apron (APRN) and Roku (ROKU), which he downgraded this morning to Sell.
TWTR Twitter
$24.32

-0.275 (-1.12%)

01/08/18
JPMS
01/08/18
NO CHANGE
Target $230
JPMS
Overweight
JPMorgan calls Facebook best idea for 2018, ups target to $230
JPMorgan analyst Doug Anmuth calls Facebook (FB) his best idea for 2018 and raised his price target for the shares to $230 from $225. The social media giant closed Friday up $2.52 to $186.85. The analyst's favorite names for 2018 are Facebook, Priceline (PCLN) and Amazon (AMZN) among large-caps and Twitter (TWTR) and Yelp (YELP) among smid-caps. Facebook continues to show a "rare and impressive" combination of scale, growth and profitability, Anmuth tells investors in a research note. The analyst expects continued strong engagement and highlights the "rapid growth" at Instagram, which he believes could double over time and ultimately approach core Facebook platform scale. He keeps an Overweight rating on the shares.
12/20/17
ARGS
12/20/17
NO CHANGE
Target $30
ARGS
Buy
Twitter price target raised to $30 from $25 at Argus
Argus analyst Jim Kelleher raised his price target price on Twitter to $30 from $25, stating that he believes the shares have further to go despite the stock's over 25% run-up since his upgrade in November. Twitter is restoring growth while seeking to improve, but not stifle, the user experience and Kelleher thinks its continued work on refining and clarifying its policy on toxic content can help restore the company's early mission of serving as a platform for public self-expression, he tells investors. Kelleher keeps a Buy rating on Twitter shares.
GOOG Alphabet
$1,106.94

4.71 (0.43%)

01/05/18
SBSH
01/05/18
DOWNGRADE
Target $28
SBSH
Sell
Roku downgraded to Sell from Neutral at Citi
Citi analyst Mark May downgraded Roku (ROKU) to Sell while raising his price target for the shares to $28 from $27. The shares closed yesterday down 8% to $51.24 after Morgan Stanley downgraded the name to Underweight. The stock is up 266% from its initial public offering price of $14 just three months ago, May tells investors in a research note. The analyst is positive on the long-term growth of the over-the-top video market and on Roku's growth outlook, but believes the current valuation is more than reflecting that outlook. Potential catalysts for a share selloff include the lockup expiration in March, earnings results that don't rise to bullish expectations, and increased competition from the likes of Google (GOOG), Amazon (AMZN) or Apple (AAPL), May contends.
01/08/18
MSCO
01/08/18
DOWNGRADE
Target $6
MSCO
Equal Weight
Pandora downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne downgraded Pandora (P) to Equal Weight from Overweight, noting that the company's core free product has not evolved meaningfully and faces continued innovation by Spotify, Apple (AAPL) and Amazon (AMZN) while also being pressured by free music available on Google's (GOOG) YouTube. While engagement is challenged, is increasingly clear that consumers' willingness to accept more ads is limited, which also puts pressure on monetization and means growing ad revenue in 2018 is "no longer a given," he tells investors. Swinburne lowered his price target on Pandora shares to $6 from $12.
01/08/18
FBCO
01/08/18
NO CHANGE
Target $1350
FBCO
Outperform
Alphabet best positioned to connect goods supply with demand, says Credit Suisse
Credit Suisse analyst Stephen Ju believes Alphabet is best positioned in the sector to connect supply of goods with consumer demand. The analyst reiterates an Outperform rating and $1350 on Alphabet Class A shares given ongoing monetization improvements in Search through product updates, larger-than-expected contribution from Google's larger nonSearch businesses, namely YouTube, Play and Cloud, and optionality for value creation from new monetization initiatives such as Maps as well as the eventual commercialization of Google's Other Bets.
GOOGL Alphabet Class A
$1,114.21

3.92 (0.35%)

12/13/17
COWN
12/13/17
NO CHANGE
Target $2170
COWN
Outperform
Priceline named a best idea for 2018 at Cowen
Cowen analyst Kevin Kopelman believes Priceline (PCLN) is not shifting away from Google (GOOG, GOOGL). The company is largely aligned with the search giant and should continue to benefit from underlying growth in travel and the shift to online and mobile, Kopelman tells investors in a research note. He believes investor perception has Priceline both slowing down and shifting away from Google. The analyst calls Priceline a top idea for 2018 with an Outperform rating and $2,170 price target.
FB Facebook
$188.28

1.43 (0.77%)

01/09/18
RSBL
01/09/18
NO CHANGE
RSBL
Applied Optoelectronics may lose share at Facebook, Amazon.com, says Rosenblatt
Rosenblatt analyst Jun Zhang said Applied Optoelectronics (AAOI) may be losing share to InnoLight at Facebook (FB) and Amazon.com (AMZN).
01/08/18
BOFA
01/08/18
NO CHANGE
Target $230
BOFA
Buy
Facebook remains a top pick in online advertising for 2018 at BofA/Merrill
BofA/Merrill analyst Justin Post said Facebook remains his top pic in online advertising for 2018 as he expects the company to benefit from strong ad pricing growth, further monetization of Instagram, messaging, and video, and sees potential earnings upside and attractive valuation. Post raised his 2018 online ad spend growth forecast to 15% from 13%, and his US ad spend estimate to $95B from $91B. The analyst rates Facebook a Buy with a $230 price target.
01/08/18
WELS
01/08/18
NO CHANGE
Target $230
WELS
Outperform
Facebook price target raised to $230 from $215 at Wells Fargo
Wells Fargo analyst Ken Sena raised his price target for Facebook to $230 from $215 as he sees the potential for estimate upside. The analyst reiterates an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

FCF

First Commonwealth

$14.98

-0.12 (-0.79%)

17:03
01/23/18
01/23
17:03
01/23/18
17:03
Earnings
First Commonwealth reports Q4 core EPS 21c, consensus 21c »

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  • 24

    Jan

NSC

Norfolk Southern

$151.66

0.19 (0.13%)

17:01
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01/23
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17:01
Hot Stocks
Norfolk Southern names John Scheib chief legal officer »

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UMBF

UMB Financial

$74.16

-0.59 (-0.79%)

17:01
01/23/18
01/23
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17:01
Hot Stocks
UMB Financial raises quarterly dividend by 5.5% to 29c »

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    Jan

UAL

United Continental

$77.97

1.11 (1.44%)

16:55
01/23/18
01/23
16:55
01/23/18
16:55
Hot Stocks
United Continental says mid-continent hubs account for margin underperformance »

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  • 23

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    Mar

16:55
01/23/18
01/23
16:55
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16:55
Conference/Events
CFA Society of Columbus to hold a dinner meeting »

Ian Wallace of Third…

TXN

Texas Instruments

$120.00

0.56 (0.47%)

16:53
01/23/18
01/23
16:53
01/23/18
16:53
Hot Stocks
Texas Instruments says communications equipment market 'choppy' »

Says economy is…

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  • 23

    Jan

FB

Facebook

$189.35

3.98 (2.15%)

16:50
01/23/18
01/23
16:50
01/23/18
16:50
Hot Stocks
Facebook acquires mobile ID authentication startup Confirm.io »

Confirm.io announced that…

03/08/13
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03/06/13
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  • 23

    Jan

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    Jan

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    Feb

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    Feb

ASB

Associated Banc-Corp

$25.90

-0.15 (-0.58%)

, BKMU

BankMutual

$10.85

-0.1 (-0.91%)

16:46
01/23/18
01/23
16:46
01/23/18
16:46
Hot Stocks
Associated receives regulatory approvals to acquire BankMutual »

Associated Banc-Corp…

ASB

Associated Banc-Corp

$25.90

-0.15 (-0.58%)

BKMU

BankMutual

$10.85

-0.1 (-0.91%)

03/08/13
Wedge Partners
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Credit Suisse
03/06/13
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03/06/13
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  • 25

    Jan

DKL

Delek Logistics

$32.80

0.5 (1.55%)

16:46
01/23/18
01/23
16:46
01/23/18
16:46
Hot Stocks
Delek Logistics raises quarterly dividend by 1.4% to 72.5c »

Delek Logistics Partner…

03/08/13
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  • 27

    Feb

NTIP

Network-1 Technologies

$2.60

0.1 (4.00%)

, GOOG

Alphabet

$1,169.97

14.16 (1.23%)

16:45
01/23/18
01/23
16:45
01/23/18
16:45
Hot Stocks
Network-1 Technologies receives favorable ruling from federal circuit court »

Network-1 Technologies…

NTIP

Network-1 Technologies

$2.60

0.1 (4.00%)

GOOG

Alphabet

$1,169.97

14.16 (1.23%)

GOOGL

Alphabet Class A

$1,176.17

12.01 (1.03%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 23

    Jan

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    Feb

  • 07

    Feb

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    Feb

  • 18

    Mar

SIGM

Sigma Designs

$7.00

0.025 (0.36%)

16:45
01/23/18
01/23
16:45
01/23/18
16:45
Hot Stocks
Breaking Hot Stocks news story on Sigma Designs »

Sigma Designs trading…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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X

U.S. Steel

$40.06

0.75 (1.91%)

16:44
01/23/18
01/23
16:44
01/23/18
16:44
Hot Stocks
U.S. Steel 'pleased' with Presidential tariffs on certain imports »

United States Steel…

03/08/13
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03/06/13
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03/06/13
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  • 01

    Feb

UAL

United Continental

$77.97

1.1 (1.43%)

16:42
01/23/18
01/23
16:42
01/23/18
16:42
Hot Stocks
United Continental says 2017 a 'transition' year »

Says understands that…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 23

    Jan

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    Jan

  • 21

    Mar

AUO

AU Optronics

$4.69

0.03 (0.64%)

16:42
01/23/18
01/23
16:42
01/23/18
16:42
Upgrade
AU Optronics rating change  »

AU Optronics upgraded to…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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AGII

Argo Group

$65.10

0.05 (0.08%)

16:41
01/23/18
01/23
16:41
01/23/18
16:41
Hot Stocks
Argo Group reports preliminary pre-tax catastrophe loss of $34M-$38M in Q4 »

Argo Group International…

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MGNX

MacroGenics

$20.25

0.83 (4.27%)

16:40
01/23/18
01/23
16:40
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16:40
Hot Stocks
MacroGenics completes interim futility analysis of the Phase 3 SOPHIA trial »

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LPL

LG Display

$15.59

1.33 (9.33%)

16:38
01/23/18
01/23
16:38
01/23/18
16:38
Upgrade
LG Display rating change  »

LG Display upgraded to…

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GDS

GDS Holdings

$26.75

-0.22 (-0.82%)

16:37
01/23/18
01/23
16:37
01/23/18
16:37
Syndicate
Breaking Syndicate news story on GDS Holdings »

GDS Holdings files…

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16:36
01/23/18
01/23
16:36
01/23/18
16:36
General news
API crude inventories for week of January 19 »

API reports that crude…

NAVI

Navient

$13.44

-0.08 (-0.59%)

16:34
01/23/18
01/23
16:34
01/23/18
16:34
Earnings
Breaking Earnings news story on Navient »

Navient reports Q4 GAAP…

03/08/13
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  • 24

    Jan

FHN

First Horizon

$20.11

0.01 (0.05%)

16:34
01/23/18
01/23
16:34
01/23/18
16:34
Hot Stocks
First Horizon replaces share repurchase program »

The board of First…

03/08/13
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FHN

First Horizon

$20.11

0.01 (0.05%)

16:33
01/23/18
01/23
16:33
01/23/18
16:33
Hot Stocks
First Horizon increases quarterly dividend 33% »

First Horizon National…

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SD

SandRidge Energy

$19.29

-0.02 (-0.10%)

16:32
01/23/18
01/23
16:32
01/23/18
16:32
Hot Stocks
SandRidge Energy: Not in best interests of holders to accept Ichan's proposal »

SandRidge Energy issued a…

03/08/13
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CQP

Cheniere Energy Partners

$31.30

0.41 (1.33%)

16:32
01/23/18
01/23
16:32
01/23/18
16:32
Hot Stocks
Cheniere Energy Partners raises dividend to 50c from 44c »

Cheniere Energy Partners,…

03/08/13
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03/06/13
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03/06/13
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  • 26

    Feb

GORO

Gold Resource

$4.97

0.05 (1.02%)

16:32
01/23/18
01/23
16:32
01/23/18
16:32
Hot Stocks
Gold Resource to expand Arista Mine vein system »

Gold Resource announced…

03/08/13
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03/06/13
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  • 29

    Jan

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