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Acxiom rebounds 6.6% on signs Facebook may rethink policy

Published 04/04/2018, 11:08 AM
© Reuters. Acxiom rebounds 6.6% on signs Facebook may rethink policy
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  • Acxiom (NASDAQ:ACXM) -- whose stock slid by double digits after Facebook (NASDAQ:FB) announced it was phasing out some third-party data usage -- is up 6.6% on inklings that Facebook might reconsider the policy change.
  • Acxiom CEO Scott Howe says in a blog post to "trust that common sense will ultimately prevail."
  • "We’ve seen some signs that Facebook is reconsidering the initial policy they issued last week on data imports in light of advertiser concerns that will have an economic impact," Howe writes. "There are many talented and smart people at Facebook. And if they take action on this feedback, it would be a smart move for them and good news for the industry."
  • Stephens' Brett Huff agrees, saying advertisers will likely still buy Acxiom's data, but individually rather than through Facebook. He's an incremental buyer on recent weakness, staying Overweight with a price target of $32, implying 39% further upside. (h/t Bloomberg)
  • Now read: Facebook Cuts Third-Party Data Providers From Ad Targeting


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