Facebook's recent push to make money could backfire, warns an analyst who believes a user backlash may depress its shares to $16 over the next year.
BTIG analyst Richard Greenfield lowered his firm's target price for Facebook today, citing concern over Facebook's "aggressive" increase of monetization efforts, particularly mobile ads, according to his report. Facebook's stock opened at $20.40 a share this morning.
Since going public in May, Facebook has faced increasing pressure from investors to demonstrate that it can keep revenue and profits growing quickly. The social network has increased advertising efforts, … Read more