Facebook Given New $42.00 Price Target at Sanford C. Bernstein (FB)
Equities researchers at Sanford C. Bernstein upped their price objective on shares of Facebook (NASDAQ:FB) from $40.00 to $42.00 in a research report issued on Friday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price would suggest a potential downside of 15.58% from the stock’s previous close.
Facebook (NASDAQ:FB) opened at 49.75 on Friday. Facebook has a 52 week low of $17.55 and a 52 week 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 price-to-earnings ratio of 227.17.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the 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. On average, analysts predict that Facebook will post $0.82 earnings per share for the current fiscal year.
A number of other firms have also recently commented on FB. 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. Separately, 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. Finally, analysts at Citigroup Inc. raised their price target on shares of Facebook from $55.00 to $57.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Eight investment analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $56.27.
In other Facebook news, VP Colin Stretch sold 2,977 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available at this link.
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.