Facebook Price Target Increased to $82.00 by Analysts at JMP Securities (FB)
Equities researchers at JMP Securities boosted their target price on shares of Facebook (NASDAQ:FB) from $70.00 to $82.00 in a research report issued on Thursday, AnalystRatingsNetwork reports. JMP Securities’ price objective points to a potential upside of 53.19% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company reiterated a “positive” rating on shares of Facebook in a research note to investors on Tuesday. They now have a $80.00 price target on the stock. Separately, analysts at Cantor Fitzgerald reiterated an “in-line” rating on shares of Facebook in a research note to investors on Monday. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Facebook in a research note to investors on Wednesday, January 22nd. Six research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. Facebook has a consensus rating of “Buy” and a consensus target price of $67.58.
In other Facebook news, COO Sheryl Sandberg sold 283,334 shares of the stock on the open market 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 transaction, 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 document filed with the SEC, which can be accessed through this link.
Facebook (NASDAQ:FB) traded up 14.10% during mid-day trading on Thursday, hitting $61.08. The stock had a trading volume of 150,438,704 shares. Facebook has a 1-year low of $22.67 and a 1-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. On average, analysts predict that Facebook will post $1.13 earnings per share 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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