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Facebook is looking to expand its advertising capabilities further. The social networking giant will soon start testing ads on its viral video app, Instagram Reels. Reuters reports that the ad testing spree will target users in India, Brazil, Germany, and Australia, where Instagram Reels has gained popularity.Airing ads on Instagram Reels affirms Facebook's (FB) push to profit from growing short-video popularity. It also indicates how strong the momentum is for Instagram Reels. The banning of TikTok in India has presented a unique opportunity for the company to secure a larger share of the pie.According to Reuters, the company intends to test other features as part of an increased focus on the Indian market. For instance, it is contemplating letting creators in India share reels’ videos on their Facebook accounts.The social media behemoth has already confirmed it will let advertisers select categories of content where they would like to place their ads. According to the Reuters report, advertisers could be allowed to place their ads along with children and parenting videos, and animal and fitness content.Facebook shares are up 8% year to date after a 33% pop in 2020. (See Facebook stock analysis on TipRanks).Facebook will also begin testing sticker ads on Facebook Stories. Brands will be able to create sticker ads that can be placed on creators' Stories.Facebook's push to expand its advertising empire has caught the attention of Jefferies’ analyst Brent Thill. While the company is expected to post 34% year-over-year revenue growth, the forecast might be ‘too conservative' according to the analyst.With Social ad spend expected to remain ‘robust,’ Thill has reiterated a Buy rating on Facebook with a $360 price target. This implies 10% upside potential to current levels.Consensus among Wall Street analysts is that Facebook is a Strong Buy based on 30 Buy and 4 Hold ratings. The average analyst price target of $345.13 implies 16.4% upside potential to current trading levels.According to the TipRanks’ Smart Score system, FB scores a 7 out of 10, indicating that it is likely to outperform the overall market.Related News
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Wall Street is skeptical President Joe Biden's expected proposal to hike capital gains taxes could pass the Senate, but investors see risks that tax-motivated selling could still weigh on technology and other sectors that skyrocketed during the pandemic.
Facebook Inc on Thursday said it will begin testing ads on its TikTok clone Instagram Reels in India, Brazil, Germany and Australia, as the social media giant aims to make money from its short-form video feature.
U.S. stocks dived on Thursday on reports President Joe Biden planned to almost double the capital gains tax, news analysts said provided an excuse to take profits in a directionless market ahead of big tech's earnings next week.
U.S. stocks dived on Thursday on reports President Joe Biden planned to almost double the capital gains tax, news analysts said provided an excuse to take profits in a directionless market ahead of big tech's earnings next week.
U.S. stocks dived on Thursday on reports President Joe Biden planned to almost double the capital gains tax, news analysts said provided an excuse to take profits in a directionless market ahead of big tech's earnings next week.
In this episode of Motley Fool Answers, the authors of The New Long Life: A Framework for Flourishing in a Changing World discuss how individuals, corporations, and governments should be preparing for longer lifespans, accelerated technological innovations, and the end of retirem
U.S. stocks dived on Thursday on reports President Joe Biden planned to almost double the capital gains tax, but analysts said the news was an excuse to take profits in a listless market ahead of big tech's earnings next week.
Facebook Inc on Thursday said it will begin testing ads on its TikTok clone Instagram Reels in India, Brazil, Germany and Australia, as the social media giant aims to make money from its short-form video feature.
Ireland, resigned to having much to lose from a global overhaul of how multinational companies are taxed, has embarked on a damage limitation exercise that it hopes will let it and other low-tax economies retain some of their decades-old advantages.
Facebook’s users will soon be able to listen to music hosted on Spotify while browsing. Project Boombox is the new initiative by the networking giant that cements the growing ties between the two companies. According to TechCrunch, Facebook users will soon be able to listen to songs and playlists without being externally linked to the music and podcast giant.
According to Techcrunch, Facebook (FB) plans to build an audio player that will link directly to the Spotify (SPOT) app or website. The integration will support both music and podcasts, with trials already started in Mexico and Thailand.
Enabling audio services on Facebook apps is part of CEO Mark Zuckerberg's initiative to improve user's experience on the various apps. The initiative should enhance creators' experience on the platforms as they will now be able to share their work with ease.
“We think that audio is going to be a first-class medium and that there are all these different products to be built across this whole spectrum,” said the CEO.
He further added, “Of course, it includes some areas that, that have been, you know, popular recently like podcasting and kind of live audio rooms like this, but I also think that there’s some interesting things that are under-explored in the area overall.”
Analyst Brian White of Monness Crespi Hardt, maintains a Buy rating on Facebook with a $375 price target implying 24% upside potential from current levels.
“With sales up 37% per annum over the past five years, EPS turning in a 51% CAGR and one of the highest operating margins in our coverage universe, we believe Facebook should trade at a healthy premium to the market and tech sector,” White wrote in research note to investors.
Consensus among analysts is a Strong Buy based on 30 Buy and 4 Hold ratings. The average analyst price target of $344.81 implies 14.38% upside potential to current levels.
FB scores a 7 out of 10 on TipRanks’ Smart Score rating tool, signalling its performance is likely to align with the overall market.
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Facebook says it has disrupted a long-running cyberespionage campaign run by Palestinian intelligence which features spies posing as journalists and the deployment of a booby-trapped app for submitting human rights stories.
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