Facebook PT Raised to $72.50 (FB)
Analysts at Wedbush lifted their target price on shares of Facebook (NASDAQ:FB) from $49.00 to $72.50 in a research report issued to clients and investors on Friday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 45.73% from the company’s current price.
In other Facebook news, VP Colin Stretch sold 2,977 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.74, for a total transaction of $151,052.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Facebook (NASDAQ:FB) traded down 0.91% on Friday, hitting $49.75. 95,032,880 shares of the company’s stock traded hands. 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 $49.27 and its 200-day moving average is $34.8. The company has a market cap of $121.2 billion and a price-to-earnings ratio of 227.17.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.06. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company posted $0.12 earnings per share. Facebook’s revenue was up 59.7% compared to the same quarter last year. Analysts expect that Facebook will post $0.82 EPS for the current fiscal year.
A number of other firms have also recently commented on FB. Analysts at Telsey Advisory Group raised their price target on shares of Facebook from $41.00 to $58.00 in a research note to investors on Friday, October 25th. They now have a “not rated” rating on the stock. Separately, analysts at JMP Securities set a $65.00 price target on shares of Facebook in a research note to investors on Thursday, October 24th. They now have a “market outperform” rating on the stock. Finally, analysts at Needham & Company reiterated a “buy” rating on shares of Facebook in a research note to investors on Tuesday, October 22nd. They now have a $65.00 price target on the stock, up previously from $37.00. Eight analysts have rated the stock with a hold rating and thirty-six have assigned a buy rating to the stock. Facebook presently has a consensus rating of “Buy” and an average target price of $55.90.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.