FB: Facebook (FB -1.9%) slumps once again after...

12:19 PM Facebook (FB -1.9%) slumps once again after Wells Fargo resumes coverage with an Outperform, but lowers its valuation range to $30-$32 from $36-$39, and also cuts its 2014 revenue and EPS forecasts to $8.24B and $0.75 from $8.5B and $0.80 (2013 estimates have been slightly raised). Analyst Peter Stabler is optimistic about the rise of native ad formats (such as Facebook's Sponsored Stories), and a migration away from "broadcast" ad formats (such as traditional banner ads). But his bullishness is tempered by "the challenges associated with the launch of new communication forms and the time required for marketplace education." Read comments

FB price at time of publication: $23.87. Check FB price now »

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Transcripts on FB

• Facebook's CEO Discusses Q1 2013 Results - Earnings Call Transcript
• Facebook's CEO Discusses Q4 2012 Results - Earnings Call Transcript
• Facebook's CEO Discusses Q3 2012 Earnings Results - Earnings Call Transcript

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