Facebook Receives New Coverage from Analysts at Atlantic Securities (FB)
Atlantic Securities initiated coverage on shares of Facebook (NASDAQ:FB) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set an “overweight” rating on the stock.
A number of other analysts have also recently weighed in on FB. Analysts at William Blair reiterated an “outperform” rating on shares of Facebook in a research note to investors on Friday. Separately, analysts at Sterne Agee raised their price target on shares of Facebook from $50.00 to $58.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Macquarie set a $62.00 price target on shares of Facebook in a research note to investors on Thursday. They now have a “hold” rating on the stock. Eleven research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company’s stock. Facebook has an average rating of “Buy” and a consensus target price of $48.35.
Shares of Facebook (NASDAQ:FB) opened at 51.04 on Monday. Facebook has a one year low of $18.80 and a one year high of $51.60. The stock’s 50-day moving average is $44.31 and its 200-day moving average is $31.62. The company has a market cap of $124.3 billion and a P/E ratio of 230.95.
Facebook (NASDAQ:FB) last released its 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 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.
In other Facebook news, COO Sheryl Sandberg unloaded 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 sale, the chief operating officer now directly owns 12,123,507 shares in the company, valued at approximately $594,779,253. The sale was disclosed in a legal filing with the SEC, 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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