Credit Agricole Increases Facebook Price Target to $60.00 (FB)
Investment analysts at Credit Agricole lifted their target price on shares of Facebook (NASDAQ:FB) from $42.00 to $60.00 in a note issued to investors on Thursday, StockRatingsNetwork.com reports. Credit Agricole’s price objective points to a potential upside of 33.21% from the company’s current price.
A number of other firms have also recently commented on FB. Analysts at TheStreet reiterated a “hold” rating on shares of Facebook (NASDAQ:FB) in a research note to investors on Wednesday. Separately, analysts at Macquarie raised their price target on shares of Facebook (NASDAQ:FB) from $40.00 to $49.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Sterne Agee raised their price target on shares of Facebook (NASDAQ:FB) to $50.00 in a research note to investors on Monday. They now have a “buy” rating on the stock.
Eleven research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Facebook has a consensus rating of “Buy” and an average target price of $41.06.
Shares of Facebook (NASDAQ:FB) opened at 45.04 on Thursday. Facebook has a one year low of $18.80 and a one year high of $45.09. The stock’s 50-day moving average is $38.86 and its 200-day moving average is $29.16. The company has a market cap of $109.7 billion and a P/E ratio of 203.80.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. Analysts expect that Facebook will post $0.71 EPS for the current fiscal year.
In other Facebook news, VP Colin Stretch sold 31,574 shares of the stock on the open market in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $43.17, for a total transaction of $1,363,049.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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