NEW YORK (TheStreet) -- Shares of Facebook (FB) rose 0.84% to $77.44 in morning trading Tuesday, a week before the social media company reportedly plans to debut a new advertising platform called Atlas, according to the Wall Street Journal.
Facebook designed Atlas to improve how marketers target and measure the advertisements they buy online, according to the Journal. Atlas is a re-engineered version of Atlas Advertiser Suite, which Facebook bought from Microsoft (MSFT) in 2013.
Atlas should allow marketers to determine Facebook users who have seen, interacted with or taken action based upon ads that appear on Facebook services, as well as third-party websites and apps. Atlas also offers an automated ad-buying tool called a "demand-side platform," also known as a "bidder," which will give marketers the ability to purchase ads that target Facebook users as they browse the Internet.
Facebook's Atlas debut is part of an effort to challenge Google's (GOOGL) dominance in online advertising. Some ad executives believe Facebook could give marketers better targeting capabilities and more detailed and accurate information about ad campaigns than they had in the past, according to the Journal.
Separately, TheStreet Ratings team rates FACEBOOK INC as a "hold" with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. 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 and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation."