Facebook, Inc. (NASDAQ:FB)‘s stock had its “outperform” rating reaffirmed by equities research analysts at FBN Securities in a research note issued on Sunday, July 30th. They currently have a $210.00 target price on the social networking company’s stock, up from their prior target price of $175.00. FBN Securities’ target price indicates a potential upside of 25.44% from the company’s previous close.
Several other research analysts have also weighed in on FB. Aegis reiterated a “buy” rating on shares of Facebook in a report on Sunday, April 2nd. Barclays PLC reiterated a “neutral” rating on shares of Facebook in a report on Friday, April 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $175.00 target price on shares of Facebook in a report on Monday, April 17th. Credit Suisse Group lifted their target price on Facebook from $170.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, April 17th. Finally, BMO Capital Markets restated a “hold” rating and issued a $150.00 price target on shares of Facebook in a report on Monday, April 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, forty-two have assigned a buy rating and three have issued a strong buy rating to the company. Facebook has a consensus rating of “Buy” and a consensus price target of $183.47.
Shares of Facebook (NASDAQ:FB) opened at 167.41 on Friday. The stock has a 50 day moving average price of $163.85 and a 200 day moving average price of $148.79. Facebook has a one year low of $113.55 and a one year high of $175.49. The firm has a market cap of $486.19 billion, a price-to-earnings ratio of 37.47 and a beta of 0.70.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. On average, equities research analysts forecast that Facebook will post $5.33 EPS for the current year.
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In other Facebook news, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $148.03, for a total transaction of $2,368,480.00. Following the transaction, the insider now owns 221,328 shares of the company’s stock, valued at approximately $32,763,183.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 279,533 shares of Facebook stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $152.04, for a total transaction of $42,500,197.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,702,398 shares of company stock worth $2,054,828,660. 19.08% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Allen Operations LLC raised its stake in shares of Facebook by 4.9% in the fourth quarter. Allen Operations LLC now owns 3,754 shares of the social networking company’s stock valued at $432,000 after buying an additional 174 shares during the last quarter. Arrowpoint Asset Management LLC raised its stake in shares of Facebook by 5.5% in the fourth quarter. Arrowpoint Asset Management LLC now owns 15,400 shares of the social networking company’s stock valued at $1,772,000 after buying an additional 808 shares during the last quarter. Asturias Capital LLC bought a new stake in shares of Facebook during the fourth quarter valued at about $10,726,000. Tyers Asset Management LLC bought a new stake in shares of Facebook during the fourth quarter valued at about $34,083,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Facebook by 1.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 240,103 shares of the social networking company’s stock valued at $27,619,000 after buying an additional 2,350 shares during the last quarter. 57.40% of the stock is currently owned by hedge funds and other institutional investors.
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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