Facebook PT Raised to $80.00 at Cowen and Company (FB)
Cowen and Company boosted their price objective on shares of Facebook (NASDAQ:FB) from $68.00 to $80.00 in a research note issued on Thursday, Analyst Ratings Network.com reports. Cowen and Company’s price target would indicate a potential upside of 49.45% from the stock’s previous close.
In other Facebook news, COO Sheryl Sandberg unloaded 283,334 shares of the 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 of the company’s stock, valued at approximately $566,290,062. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Pivotal Research raised their price target on shares of Facebook from $63.00 to $65.00 in a research note to investors on Thursday. Separately, analysts at Morgan Stanley raised their price target on shares of Facebook to $72.00 in a research note to investors on Thursday. Finally, 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. Six analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.58.
Shares of Facebook (NASDAQ:FB) traded up 14.10% 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 P/E ratio of 136.91.
Facebook (NASDAQ:FB) last released its 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.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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