Facebook Given New $72.00 Price Target at Morgan Stanley (FB)
Equities researchers at Morgan Stanley hoisted their price objective on shares of Facebook (NASDAQ:FB) to $72.00 in a research report issued on Thursday, Analyst Ratings Network.com reports. Morgan Stanley’s target price would suggest a potential upside of 34.50% from the stock’s previous close.
A number of other analysts have also recently weighed in on FB. Analysts at Jefferies Group raised their price target on shares of Facebook from $60.00 to $80.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Evercore Partners raised their price target on shares of Facebook from $65.00 to $70.00 in a research note to investors on Thursday. Finally, analysts at Citigroup Inc. raised their price target on shares of Facebook from $57.00 to $70.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $67.58.
In other Facebook news, COO Sheryl Sandberg sold 283,334 shares of Facebook stock on the open market in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $54.74, for a total transaction of $15,509,703.16. Following the transaction, the chief operating officer now directly owns 10,345,087 shares in the company, valued at approximately $566,290,062. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Facebook (NASDAQ:FB) traded up 14.10% on Thursday, hitting $61.08. The stock had a trading volume of 150,393,104 shares. Facebook has a one year low of $22.67 and a one year high of $59.31. The stock’s 50-day moving average is $55.69 and its 200-day moving average is $46.67. The company has a market cap of $149.9 billion and a price-to-earnings ratio of 136.91.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.04. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was up 63.1% on a year-over-year basis. Analysts expect that Facebook will post $1.13 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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