Facebook Price Target Raised to $53.00 at Wells Fargo & Co. (FB)
Analysts at Wells Fargo & Co. lifted their price objective on shares of Facebook (NASDAQ:FB) to $53.00 in a research report issued to clients and investors on Thursday, Stock Ratings Network.com reports. Wells Fargo & Co.’s price objective suggests a potential upside of 17.67% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Credit Agricole raised their price target on shares of Facebook (NASDAQ:FB) from $42.00 to $60.00 in a research note to investors on Thursday. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Facebook (NASDAQ:FB) in a research note to investors on Wednesday. Finally, 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.
Eleven analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $41.86.
Shares of Facebook (NASDAQ:FB) traded up 0.44% during mid-day trading on Thursday, hitting $45.24. 37,011,152 shares of the company’s stock traded hands. Facebook has a 1-year low of $18.80 and a 1-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 $110.2 billion and a P/E ratio of 203.80.
Facebook (NASDAQ:FB) last released its earnings data on Wednesday, July 24th. The company reported $0.19 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.12 earnings per share. Facebook’s revenue was up 53.1% compared to the same quarter last year. 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 company’s stock on the open market in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $43.17, for a total value of $1,363,049.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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