Deutsche Bank Lowers Facebook Price Target to $61.00 (FB)
Equities research analysts at Deutsche Bank decreased their target price on shares of Facebook (NASDAQ:FB) from $62.00 to $61.00 in a research note issued to investors on Friday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price target would suggest a potential upside of 22.61% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Sanford C. Bernstein raised their price target on shares of Facebook from $40.00 to $42.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Argus upgraded shares of Facebook from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $63.00 price target on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Facebook from $53.00 to $57.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and thirty-six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $56.27.
In other Facebook news, VP Colin Stretch sold 2,977 shares of Facebook stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $50.74, for a total value of $151,052.98. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Facebook (NASDAQ:FB) opened at 49.75 on Friday. Facebook has a 1-year low of $17.55 and a 1-year high of $45.62. The stock has a 50-day moving average of $49.41 and a 200-day moving average of $35.02. The company has a market cap of $121.2 billion and a P/E ratio of 227.17.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, October 30th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 59.7% on a year-over-year basis. Analysts expect that Facebook will post $0.82 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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