Facebook Receives “Buy” Rating from SunTrust (FB)
Facebook (NASDAQ:FB)‘s stock had its “buy” rating restated by analysts at SunTrust in a research report issued to clients and investors on Tuesday, ARN reports.
The analysts wrote, “Twitter filed its S-1 yesterday with the SEC, which we believe could value the company as high as $20b. Twitter is reported to be expecting to generate over $1b in revenues next year. If we apply Facebook and LinkedIn’s FY13 P/Sales multiples of 15x and 19x, that would imply a value of ~$20b. This was on the heels of Facebook CEO Mark Zuckerberg’s reiteration of the company’s core mission at TechCrunch Disrupt on Wednesday. His interview drove home several key points regarding Facebook as a company, and our investment thesis: mission, vision, and catalysts.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Facebook (NASDAQ:FB) from $46.00 to $52.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Facebook (NASDAQ:FB) from $40.00 to $52.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Facebook (NASDAQ:FB) from $37.00 to $50.00 in a research note to investors on Friday. They now have a “buy” rating on the stock.
Eleven research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $42.37.
Facebook (NASDAQ:FB) traded up 3.81% during mid-day trading on Tuesday, hitting $44.13. The stock had a trading volume of 40,703,688 shares. Facebook has a 52 week low of $18.80 and a 52 week high of $45.62. The stock has a 50-day moving average of $39.90 and a 200-day moving average of $29.54. The company has a market cap of $107.5 billion and a price-to-earnings ratio of 192.35.
Facebook (NASDAQ:FB) last announced its earnings results 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 $0.72 EPS for the current fiscal year.
In other Facebook news, VP David B. Fischer unloaded 24,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $43.82, for a total transaction of $1,051,680.00. The sale was disclosed in a filing with the SEC, 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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