NEW YORK (TheStreet) -- Facebook (FB) shares are down 0.75% in pre-market trading on Monday following reports that the social media company would be unveiling its new "people based marketing" technology this week.
The new technology builds on the company's Atlas ad server and will allow marketers to track Facebook users on desktop and mobile devices, and websites, while keeping user identities anonymous, track how often they see the marketers' advertisements.
Facebook is set to meet with different advertising agencies during Advertising Week in New York City this week to pitch the new technology, according to Bloomberg.
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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."