Facebook (NASDAQ:FB) had its price objective lifted by Morgan Stanley from $185.00 to $175.00 in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a buy rating on the social networking company’s stock.
Several other brokerages have also issued reports on FB. Raymond James lowered shares of Facebook from a strong-buy rating to an outperform rating and set a $210.00 price target on the stock. in a report on Thursday, July 26th. Royal Bank of Canada reissued a buy rating and issued a $195.00 price target on shares of Facebook in a report on Monday, September 3rd. Stifel Nicolaus reissued a buy rating and issued a $202.00 price target on shares of Facebook in a report on Thursday, August 23rd. JPMorgan Chase & Co. boosted their price target on shares of Facebook from $195.00 to $205.00 and gave the company an overweight rating in a report on Tuesday, September 18th. Finally, MKM Partners lowered their price target on shares of Facebook to $230.00 and set a buy rating on the stock in a report on Thursday, August 2nd. Five analysts have rated the stock with a sell rating, five have given a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $205.00.
FB stock traded up $0.39 on Friday, reaching $153.74. 25,208,374 shares of the company were exchanged, compared to its average volume of 27,886,178. Facebook has a 12 month low of $149.02 and a 12 month high of $218.62. The firm has a market capitalization of $477.76 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 1.05 and a beta of 0.42.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 25th. The social networking company reported $1.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.75 by ($0.01). Facebook had a return on equity of 28.16% and a net margin of 39.31%. The company had revenue of $13.23 billion for the quarter, compared to the consensus estimate of $13.35 billion. During the same period last year, the firm posted $1.32 EPS. The company’s revenue was up 41.9% compared to the same quarter last year. As a group, equities analysts anticipate that Facebook will post 7.08 EPS for the current fiscal year.
In related news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $210.00, for a total transaction of $157,500.00. Following the transaction, the vice president now owns 88,615 shares in the company, valued at approximately $18,609,150. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 240,000 shares of the company’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $207.67, for a total transaction of $49,840,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,052,146 shares of company stock worth $1,136,174,749. 16.25% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of FB. Marble Arch Investments LP increased its stake in shares of Facebook by 40.8% in the 1st quarter. Marble Arch Investments LP now owns 451,900 shares of the social networking company’s stock valued at $72,209,000 after acquiring an additional 130,900 shares during the last quarter. Knott David M bought a new stake in shares of Facebook in the 1st quarter valued at about $3,196,000. Immersion Capital LLP bought a new stake in shares of Facebook in the 1st quarter valued at about $65,194,000. Natixis increased its stake in shares of Facebook by 420.1% in the 1st quarter. Natixis now owns 789,988 shares of the social networking company’s stock valued at $126,232,000 after acquiring an additional 638,106 shares during the last quarter. Finally, City Financial Investment Co Ltd bought a new stake in shares of Facebook in the 1st quarter valued at about $15,979,000. Institutional investors and hedge funds own 60.43% of the company’s stock.
Facebook Company Profile
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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