Facebook Price Target Increased to $65.00 by Analysts at Pivotal Research (FB)
Research analysts at Pivotal Research upped their price target on shares of Facebook (NASDAQ:FB) from $63.00 to $65.00 in a report released on Thursday, Analyst Ratings Net reports. Pivotal Research’s price objective suggests a potential upside of 21.43% from the stock’s previous close.
A number of other firms have also recently commented on FB. Analysts at Morgan Stanley raised their price target on shares of Facebook to $72.00 in a research note to investors on Thursday. Separately, 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.58.
Facebook (NASDAQ:FB) traded up 14.10% during mid-day trading on Thursday, hitting $61.08. 150,393,104 shares of the company’s stock traded hands. Facebook has a one year low of $22.67 and a one year high of $59.31. The stock has a 50-day moving average of $55.69 and a 200-day moving average of $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 announced its earnings results on Wednesday, January 29th. The company reported $0.31 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.17 earnings per share. Facebook’s revenue was up 63.1% compared to the same quarter last year. Analysts expect that Facebook will post $1.13 EPS for the current fiscal year.
In other Facebook news, COO Sheryl Sandberg sold 283,334 shares of the stock 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 sale, 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 filing with the SEC, 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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