Facebook Price Target Increased to $70.00 by Analysts at Evercore Partners (FB)
Analysts at Evercore Partners raised their target price on shares of Facebook (NASDAQ:FB) from $65.00 to $70.00 in a research report issued to clients and investors on Thursday, ARN reports. Evercore Partners’ price target indicates a potential upside of 30.77% from the company’s current price.
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 52 week low of $22.67 and a 52 week 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 issued its quarterly earnings data 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 dated Tuesday, January 28th. The shares were sold at an average price of $54.74, for a total value of $15,509,703.16. Following the completion of the sale, the chief operating officer now directly owns 10,345,087 shares in the company, valued at approximately $566,290,062. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
FB has been the subject of a number of other recent research reports. 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. Separately, analysts at Canaccord Genuity raised their price target on shares of Facebook from $62.00 to $70.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at JMP Securities raised their price target on shares of Facebook from $70.00 to $82.00 in a research note to investors on Thursday. Six investment analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $67.58.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.