Facebook PT Set at $65.00 by SunTrust (FB)
Stock analysts at SunTrust set a $65.00 price objective on shares of Facebook (NASDAQ:FB) stock in a report issued on Monday, American Banking News.com reports. SunTrust’s target price points to a potential upside of 19.14% from the stock’s previous close.
The analysts wrote, “1) Ad load concerns seem to be overdone and are being offset by better targeting & pricing; 2) Teen usage concerns are over blown, as Facebook has crossed the chasm from “cool app” to a utility; 3) Social apps, and Facebook particularly, seemed to have a strong 4Q based on 3rd party reports; 4) the monetization of Instagram has begun, helping counter a tough comp; 5) Mobile video ads have begun, also helping a tough comp. We think Instagram and video ads can add ~$300m in new revenues in 2014.”
In other Facebook news, CTO Michael Todd Schroepfer unloaded 25,000 shares of the stock on the open market in a transaction dated Monday, December 30th. The shares were sold at an average price of $54.90, for a total transaction of $1,372,500.00. Following the completion of the transaction, the chief technology officer now directly owns 367,918 shares of the company’s stock, valued at approximately $20,198,698. The sale was disclosed in a filing with the SEC, which is available at this link.
Facebook (NASDAQ:FB) traded down 0.12% on Monday, hitting $54.4899. The stock had a trading volume of 8,893,579 shares. Facebook has a 52-week low of $22.67 and a 52-week high of $58.58. The stock has a 50-day moving average of $50.84 and a 200-day moving average of $42.61. The company has a market cap of $133.8 billion and a price-to-earnings ratio of 139.53.
Facebook (NASDAQ:FB) last released its earnings data 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. On average, analysts predict that Facebook will post $0.83 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on FB. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Facebook in a research note to investors on Monday. They now have a $62.00 price target on the stock, up previously from $53.00. Separately, analysts at Bank of America Corp. raised their price target on shares of Facebook from $60.00 to $64.00 in a research note to investors on Friday. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Facebook in a research note to investors on Thursday, December 26th. Six analysts have rated the stock with a hold rating and thirty-six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $59.66.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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