Facebook Price Target Increased to $64.00 by Analysts at Bank of America Corp. (FB)
Analysts at Bank of America Corp. boosted their price target on shares of Facebook (NASDAQ:FB) from $60.00 to $64.00 in a research report issued to clients and investors on Friday, American Banking & Market News reports. Bank of America Corp.’s price target would suggest a potential upside of 16.98% from the stock’s previous close.
In other Facebook news, CTO Michael Todd Schroepfer unloaded 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $54.90, for a total transaction of $1,372,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Facebook (NASDAQ:FB) opened at 54.71 on Friday. Facebook has a 52 week low of $22.67 and a 52 week high of $58.58. The stock’s 50-day moving average is $50.68 and its 200-day moving average is $42.39. The company has a market cap of $134.3 billion and a price-to-earnings ratio of 139.92.
Facebook (NASDAQ:FB) last released its earnings data 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 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 $0.83 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on FB. Analysts at TheStreet reiterated a “hold” rating on shares of Facebook in a research note to investors on Thursday, December 26th. Separately, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Facebook in a research note to investors on Monday, December 23rd. They now have a $65.00 price target on the stock, up previously from $63.00. Finally, analysts at Oppenheimer raised their price target on shares of Facebook from $60.00 to $62.00 in a research note to investors on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $59.17.
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.