“While there’s a lot of negativity focus on these platforms, we think there’s a lot of good that’s happening,”. In a recent interview with CNBC, Jefferies’ Brent Thill said that there are 200 million small businesses and 10 million advertisers on Facebook’s platform today that could potentially lead to huge amounts of returns for the company and also for the shareholders.
Considered to be one of the most valuable companies in the world, Facebook (NASDAQ: FB) is a conglomerate tech company that belongs to America’s Information Technology Sector’s Big Five. “When you look at what’s happening with Facebook shops, to let small businesses get found, is a material opportunity to let these communities thrive while we’re all working from home,”, said Thill talking about the good contribution of Facebook to the world as we fight against the coronavirus.
Thill puts Facebook as his top large-cap pick in 2021 as a substitute to Amazon (AMZN), with a take profit price at $330 per share. According to him, Facebook is well-positioned to be robust bet because the ad dollars shifted to digital platforms. “With the stock where it’s at, we still think that there’s an upside,” said Thill.
There have been some talks that congress would like to make social media companies held to the same standards as the newspapers. Asked what would happen to the valuation of Facebook, Twitter (TWTR), and the other social media platforms if congress would classify them as publishers, Brent Thill marked, “I think right now there’s a lot of trust being given back to social media. As they’re blocking a lot of this, my trust level of going to Twitter now and going to other platforms improves. So I think ultimately what happens is, the regulators are trying to help all of us as consumers”.
“I’m a believer that we will find a middle ground.”, stated Thill while noting that these companies want to provide innovative technology for consumers and that there is a middle space in between them and congress that eventually would make ends meet. “These companies are growing up and again, through all the regulatory pain, we’ve seen new highs across all of tech,” he concluded.
- 10 Best Tech Stocks To Invest In Right Now
- 10 Largest Wind Energy Companies In The World
- Billionaire Englander’s Top 10 Stock Picks
Disclosure: None. This article is originally published at Insider Monkey.