Facebook (FB) saw its stock soar following a ‘Positive’ rating from Susquehanna.
The firm believes that the company will easily surpass its Q1 estimates in its April 23 first quarter report. Facebook stock is up over 5% following the rating from Susquehanna analysts.
SunTrust has a ‘Buy’ rating on FB. The firm said that an exec with Facebook ad software provider Nanigans said that Facebook’s Q1 ad spend was “stronger than expected when entering the quarter.”
The tech giant’s ad prices rose 10% quarter-to-quarter across the board and 92% year-to-year on a CPM basis in Q1.
FB shares are currently selling at about $61.14.