Facebook PT Raised to $62.00 at Deutsche Bank (FB)
Deutsche Bank raised their price target on shares of Facebook (NASDAQ:FB) from $43.00 to $62.00 in a research note issued on Friday, AnalystRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target would indicate a potential upside of 23.04% from the company’s current price.
The analysts wrote, “Facebook’s ascendency in mobile caught most investors off guard in 2Q, and in this report we illustrate (1) how FB got here, and (2) why we believe 2015 estimates remain ~5% too conservative, BEFORE layering in Instagram, and (3) how Instagram could be an incremental +15% to 2015 ad revenue, as our channel checks point to a mid-1Q14 ad launch. In short, while a good portion of alpha has been generated already for FB longs, we see upside to $62 based on upward estimate revisions and S+P 500 inclusion. Buy.”
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) to $58.00 in a research note to investors on Thursday. Separately, analysts at Jefferies Group raised their price target on shares of Facebook (NASDAQ:FB) from $37.00 to $60.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Facebook (NASDAQ:FB) from $36.00 to $54.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $46.97.
In other Facebook news, COO Sheryl Sandberg sold 176,452 shares of Facebook stock on the open market in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $49.06, for a total value of $8,656,735.12. Following the completion of the transaction, the chief operating officer now directly owns 12,123,507 shares of the company’s stock, valued at approximately $594,779,253. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Facebook (NASDAQ:FB) traded up 0.99% during mid-day trading on Friday, hitting $50.89. The stock had a trading volume of 40,286,304 shares. Facebook has a 1-year low of $18.80 and a 1-year high of $50.60. The stock has a 50-day moving average of $42.11 and a 200-day moving average of $30.63. The company has a market cap of $123.9 billion and a P/E ratio of 228.01.
Facebook (NASDAQ:FB) last released its earnings data on Wednesday, July 24th. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 53.1% on a year-over-year basis. Analysts expect that Facebook will post $0.72 EPS for the current fiscal year.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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