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Analysts at Stifel Nicolaus boosted their price objective on shares of Facebook (NASDAQ:FB) from $56.00 to $65.00 in a research report issued to clients and investors on Friday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 12.19% from the stock’s previous close.

The analysts wrote, “Approximately 1.2 billion users spend nearly 3bn hours a month on Facebook, a reach unmatched anywhere in media,” the report noted. “Importantly, in our recent checks with advertisers and agencies, we no longer hear consistent complaints about campaign efficacy — we believe partnerships with Datalogix and other data providers have been successful.”

A number of other firms have also recently commented on FB. Analysts at William Blair reiterated a “positive” rating on shares of Facebook in a research note to investors on Thursday. Separately, analysts at Merrill Lynch reiterated a “buy” rating on shares of Facebook in a research note to investors on Monday. Finally, 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. Six investment analysts have rated the stock with a hold rating and thirty-six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $60.60.

In other Facebook news, VP David Fischer sold 36,000 shares of the stock on the open market in a transaction dated Thursday, January 9th. The stock was sold at an average price of $58.13, for a total transaction of $2,092,680.00. Following the transaction, the vice president now directly owns 465,485 shares in the company, valued at approximately $27,058,643. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Facebook (NASDAQ:FB) last issued its quarterly 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 in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 59.7% on a year-over-year basis.

Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.

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