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Goldman Sachs Adds Facebook To Focus List, Has Cornered 30% Of U.S. Daily Mobile Internet Use

Facebook, Inc. NASDAQ:FB - Goldman Sachs Adds Facebook To Focus List, Has Cornered 30% Of U.S. Daily Mobile Internet Use

Goldman Sachs’ Derek R. Bingham views Facebook Inc FB as an “asset-light tech disruptor” that has the ability to leverage its “world-leading user base and mobile engagement to monetize long-term growth.”

Bingham added the company to Goldman Sachs’ Focus List for the Information Technology space.

Long-Term Share Gainer

With a large, “sticky” user base of about 1.7 billion MAUs and the accompanying volume of user data, the analyst believes Facebook would be a “long-term share gainer” in the growing digital advertising market.

Bingham pointed out that users spend more than 30 minutes a day on average on Facebook apps, which represents approximately 30 percent of daily mobile internet use in the US.

“We believe this industry-leading engagement offers a myriad of ancillary future opportunities in areas such as Messenger app, Facebook M (virtual assistant) and Facebook Login,” the analyst stated.

Double-Digit Growth

Facebook has continued to deliver double-digit growth in core engagement, as well as MAU and ARPU, which are its revenue drivers.

According to the Goldman Sachs report, “The company has a stated goal of running operations on 100 percent renewables, and initiated the Internet.org project to expand global internet access.”

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DateFirmActionFromTo
Sep 2016Morgan StanleyMaintainsOverweight
Jul 2016Pacific CrestMaintainsBuy
Jul 2016JMP SecuritiesMaintainsMarket Outperform

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