Facebook PT Raised to $58.00 (FB)
Research analysts at Telsey Advisory Group raised their price objective on shares of Facebook (NASDAQ:FB) to $58.00 in a report released on Friday, Analyst Ratings News reports. Telsey Advisory Group’s target price indicates a potential upside of 10.59% from the company’s current price.
Facebook (NASDAQ:FB) opened at 52.445 on Friday. Facebook has a 52-week low of $17.55 and a 52-week high of $45.62. The stock’s 50-day moving average is $39.66 and its 200-day moving average is $29.39. The company has a market cap of $127.7 billion and a P/E ratio of 237.31.
In other Facebook news, VP Colin Stretch sold 2,977 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $54.33, for a total transaction of $161,740.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
FB has been the subject of a number of other recent research reports. Analysts at JMP Securities set a $65.00 price target on shares of Facebook in a research note to investors on Thursday. They now have a “market outperform” rating on the stock. Separately, analysts at Needham & Company reiterated a “buy” rating on shares of Facebook in a research note to investors on Tuesday. They now have a $65.00 price target on the stock, up previously from $37.00. Finally, analysts at Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Facebook in a research note to investors on Thursday, October 17th. They now have a $58.00 price target on the stock. Eleven investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and an average target price of $51.76.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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