Facebook Receives Buy Rating from Merrill Lynch (FB)
Facebook (NASDAQ:FB)‘s stock had its “buy” rating reiterated by equities research analysts at Merrill Lynch in a research note issued to investors on Monday, AnalystRatingsNetwork.com reports.
A number of other analysts have also recently weighed in on FB. Analysts at Argus reiterated a “buy” rating on shares of Facebook in a research note to investors on Monday. They now have a $54.56 price target on the stock, down previously from $63.00. Separately, analysts at SunTrust set a $65.00 price target on shares of Facebook in a research note to investors on Monday. Finally, 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. Six equities research analysts have rated the stock with a hold rating and thirty-seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $59.66.
In other Facebook news, CTO Michael Todd Schroepfer sold 25,000 shares of the stock on the open market in a transaction dated Monday, December 30th. The stock was sold at an average price of $54.90, for a total value of $1,372,500.00. Following the transaction, the chief technology officer now directly owns 367,918 shares in the company, valued at approximately $20,198,698. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Facebook (NASDAQ:FB) traded up 4.84% on Monday, hitting $57.20. The stock had a trading volume of 68,910,944 shares. Facebook has a 1-year low of $22.67 and a 1-year high of $58.58. The stock’s 50-day moving average is $50.84 and its 200-day moving average is $42.61. The company has a market cap of $140.4 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 (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. Analysts expect that Facebook will post $0.83 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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