NEW YORK (TheStreet) -- Shares of Facebook (FB) - Get Report are down by 0.18% to $119.26 early Friday morning, as the Menlo Park, CA-based social media giant announces its customers ads will now appear on third party apps and websites, Reuters reports.
Anyone who has ever visited Facebook, not just those logged into the social media site, will now see these ads on websites and apps not offered by the company. However,you can opt out of seeing them based on your ad preferences, Reuters says.
In addition, Facebook recently announced it cancelled its desktop advertising platform and put all of its resources behind mobile. The move comes after the company reported in April that first quarter revenue was generated 82% from its mobile platforms, up from 73% in the previous year's first quarter.
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Separately, TheStreet Ratings rated Facebook as a "buy" with a score of A-.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.
Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that are rated.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins.
TheStreet Ratings feels its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
You can view the full analysis from the report here: FB