Facebook Rating Increased to Outperform at Cowen and Company (FB)
Facebook (NASDAQ:FB) was upgraded by research analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a report released on Friday, TheFlyOnTheWall.com reports. The firm currently has a $53.00 price target on the stock, up from their previous price target of $29.00. Cowen and Company’s price objective indicates a potential upside of 15.27% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at CRT Capital initiated coverage on shares of Facebook (NASDAQ:FB) in a research note to investors on Thursday. They set a “buy” rating and a $52.00 price target on the stock. Separately, analysts at Wedbush raised their price target on shares of Facebook (NASDAQ:FB) from $39.00 to $49.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at SunTrust reiterated a “buy” rating on shares of Facebook (NASDAQ:FB) in a research note to investors on Tuesday.
Ten analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. Facebook has a consensus rating of “Buy” and an average price target of $43.58.
Shares of Facebook (NASDAQ:FB) traded up 0.83% on Friday, hitting $46.36. The stock had a trading volume of 19,327,104 shares. Facebook has a 1-year low of $18.80 and a 1-year high of $46.05. The stock has a 50-day moving average of $40.66 and a 200-day moving average of $29.89. The company has a market cap of $112.9 billion and a price-to-earnings ratio of 208.05.
Facebook (NASDAQ:FB) last posted its quarterly 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 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. On average, analysts predict that Facebook will post $0.72 earnings per share for the current fiscal year.
In other Facebook news, VP Colin Stretch sold 4,332 shares of Facebook stock on the open market in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.50, for a total value of $184,110.00. Following the transaction, the vice president now directly owns 58,935 shares in the company. The transaction 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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