Trader Talk

Facebook Analyst Reports All Over the Map

The U.S. Securities and Exchange Commission's Form S-1, filled out by Facebook Inc.
Scott Eells | Bloomberg | Getty Images

It's been a week, and I've spent the morning perusing some of the analyst reports that have been issued on Facebook. The reports are from smaller firms: Several dozen underwriters have not yet released any research and will not for several weeks.

What is available, however, highlights the problem I have always had with Facebook : There is a vast disagreement over how to value the company.

The simple issue: The revenue growth is subject to a very high degree of uncertainty.