According to a statement by David Wehner, Facebooks Chief Financial Officer, earlier this week, the companys “clear history” feature will be introduced later in 2019.
The feature was first announced at Facebooks F8 conference in May last year. Back then Facebooks Chief Executive Officer Mark Zuckerberg described the feature as being “a simple control to clear your browsing history on Facebook — what you’ve clicked on, websites you’ve visited, and so on.”
Facebook shares closed lower for a second consecutive trading session on NASDAQ on Wednesday. It has also been the steepest daily loss since February 21st. The stock went down 0.80% ($1.32) to $162.81, after touching an intraday low at $160.43, or a price level not seen since February 22nd ($160.31).
Shares of Facebook Inc have risen 24.20% so far in 2019 compared with an 11.39% gain for the benchmark index, S&P 500 (SPX).
In 2018, Facebook Inc’s stock went down 25.71%, thus, it underperformed the S&P 500, which registered a 6.24% loss.
The tool is to enable Facebook users to view information about applications as well as websites they have visited, while also allowing them the option to delete that information from their accounts.
On the other hand, Facebooks CFO warned that the tool would make it more difficult for the company to use data, which had been collected by third parties, in order to target advertisements to its users.
“Broadly, [clear history is] going to give us some headwinds in terms of being able to target as effectively as before,” Wehner said at the Morgan Stanley Technology, Media & Telecom Conference 2019 in San Francisco, cited by CNBC.
According to CNN Money, the 43 analysts, offering 12-month forecasts regarding Facebook Inc’s stock price, have a median target of $195.00, with a high estimate of $275.00 and a low estimate of $120.00. The median estimate represents a 19.77% upside compared to the closing price of $162.81 on February 27th.
The same media also reported that 34 out of 48 surveyed investment analysts had rated Facebook Inc’s stock as “Buy”, while 8 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.
Weekly Pivot Levels
By using the traditional method of calculation, the weekly levels of importance for Facebook Inc (FB) are presented as follows:
Central Pivot Point – $161.88
R1 – $164.16
R2 – $166.44
R3 – $168.72
R4 – $171.01
S1 – $159.60
S2 – $157.32
S3 – $155.04
S4 – $152.77
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