Facebook PT Raised to $70.00 at Canaccord Genuity (FB)
Canaccord Genuity upped their price target on shares of Facebook (NASDAQ:FB) from $62.00 to $70.00 in a research note issued on Thursday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price target would indicate a potential upside of 30.77% from the stock’s previous close.
Shares of 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 posted its quarterly earnings results on Wednesday, January 29th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the 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.
In other Facebook news, COO Sheryl Sandberg sold 283,334 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $54.74, for a total value 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 document filed 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 JMP Securities raised their price target on shares of Facebook from $70.00 to $82.00 in a research note to investors on Thursday. Separately, 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. Finally, analysts at Cantor Fitzgerald reiterated an “in-line” rating on shares of Facebook in a research note to investors on Monday. Six investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $67.58.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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