Facebook Co-Founder and CEO Mark Zuckerberg wasn’t joking about “building separate mobile applications beyond the main Facebook app” during the company’s fourth-quarter earnings call Wednesday, as Paper was announced just a few hours after the call ended.
Cowen & Co.
The sentiment on Wall Street following Facebook’s fourth-quarter earnings call Wednesday was more negative than positive, with many analysts pointing to the social network’s staggering spending forecast for 2013 in lowering their ratings.
Wall Street continues to weigh in on Facebook, but Cowen & Co. Analyst John Blackledge was not as optimistic about the social network as his counterpart at J.P. Morgan, Doug Anmuth, assigning the company a neutral rating.
A total of 38.5 percent of the 421,233,615 Facebook shares purchased by underwriters prior to its initial public offering went to Morgan Stanley, while E*Trade, which had been touted as the best source of stock in the social network for individual investors, received only 0.05 percent of the shares, according to an amendment to Facebook’s S-1 filing with the Securities and Exchange Commission, filed after the close of trading Friday.