Credit Suisse Group restated their outperform rating on shares of Facebook (NASDAQ:FB) in a report released on Monday, January 8th, Marketbeat.com reports. They currently have a $232.00 price objective on the social networking company’s stock, up from their previous price objective of $230.00.
Several other equities analysts have also issued reports on the company. Goldman Sachs Group set a $205.00 price target on Facebook and gave the company a buy rating in a research note on Friday, October 20th. Morgan Stanley set a $200.00 price target on Facebook and gave the company a buy rating in a research note on Thursday, November 2nd. Needham & Company LLC boosted their price target on Facebook from $185.00 to $215.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Wedbush set a $225.00 price target on Facebook and gave the company a buy rating in a research note on Monday, October 30th. Finally, Vetr upgraded Facebook from a buy rating to a strong-buy rating and set a $202.09 price objective on the stock in a research note on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $202.86.
Facebook (NASDAQ FB) traded up $1.53 during midday trading on Monday, hitting $181.33. The company had a trading volume of 15,572,008 shares, compared to its average volume of 23,169,100. Facebook has a fifty-two week low of $126.78 and a fifty-two week high of $188.90. The firm has a market cap of $526,740.00, a PE ratio of 33.70, a PEG ratio of 1.00 and a beta of 0.68.
Facebook (NASDAQ:FB) last issued its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. equities analysts anticipate that Facebook will post 5.86 EPS for the current year.
In other news, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $175.20, for a total value of $2,803,200.00. Following the transaction, the insider now owns 172,871 shares of the company’s stock, valued at approximately $30,286,999.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $172.43, for a total value of $129,322.50. Following the completion of the transaction, the vice president now directly owns 89,916 shares in the company, valued at approximately $15,504,215.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,181,449 shares of company stock worth $752,592,962. Company insiders own 17.23% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Palisade Capital Management LLC NJ increased its position in shares of Facebook by 2.4% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock valued at $3,904,000 after buying an additional 602 shares in the last quarter. ING Groep NV increased its holdings in Facebook by 6.9% during the 2nd quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock worth $89,041,000 after purchasing an additional 37,822 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new position in Facebook during the 1st quarter worth about $94,601,000. Schwab Charles Investment Management Inc. increased its holdings in Facebook by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock worth $1,128,745,000 after purchasing an additional 349,182 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Facebook by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,610 shares of the social networking company’s stock worth $26,514,000 after purchasing an additional 907 shares in the last quarter. 57.75% of the stock is currently owned by institutional investors.
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Facebook Company Profile
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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