FBN Securities Initiates Coverage on Facebook (FB)
Equities research analysts at FBN Securities began coverage on shares of Facebook (NASDAQ:FB) in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.
Facebook (NASDAQ:FB) traded up 3.27% on Tuesday, hitting $57.74. The stock had a trading volume of 37,590,988 shares. Facebook has a 52-week low of $22.67 and a 52-week high of $58.96. The stock’s 50-day moving average is $53.17 and its 200-day moving average is $44.5. The company has a market cap of $141.7 billion and a P/E ratio of 142.99.
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. On average, analysts predict that Facebook will post $0.84 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of Facebook from $56.00 to $65.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Separately, analysts at William Blair reiterated a “positive” rating on shares of Facebook in a research note to investors on Thursday, January 9th. Finally, analysts at Merrill Lynch reiterated a “buy” rating on shares of Facebook in a research note to investors on Monday, January 6th. Six research analysts have rated the stock with a hold rating and thirty-seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $60.60.
In other Facebook news, CTO Michael Todd Schroepfer sold 25,000 shares of Facebook stock on the open market in a transaction dated Monday, January 13th. The stock was sold at an average price of $57.89, for a total transaction of $1,447,250.00. Following the completion of the transaction, the chief technology officer now directly owns 342,918 shares in the company, valued at approximately $19,851,523. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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