Facebook PT Raised to $73.00 at Argus (FB)
Stock analysts at Argus boosted their price target on shares of Facebook (NASDAQ:FB) from $63.00 to $73.00 in a report issued on Monday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Argus’ target price suggests a potential upside of 16.67% from the stock’s previous close.
Shares of Facebook (NASDAQ:FB) opened at 62.57 on Monday. Facebook has a one year low of $22.67 and a one year high of $63.37. The stock’s 50-day moving average is $56.37 and its 200-day moving average is $47.03. The company has a market cap of $153.8 billion and a P/E ratio of 101.80.
Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, January 29th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was up 63.1% on a year-over-year basis. On average, analysts predict that Facebook will post $1.24 earnings per share for the current fiscal year.
In other Facebook news, COO Sheryl Sandberg sold 283,334 shares of Facebook stock on the open market in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $54.74, for a total transaction 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 SEC, which can be accessed through this link.
A number of other analysts have also recently weighed in on FB. Analysts at UBS AG raised their price target on shares of Facebook from $62.00 to $72.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Facebook to $67.00 in a research note to investors on Thursday. Finally, analysts at CRT Capital raised their price target on shares of Facebook from $57.00 to $75.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Six investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $68.16.
Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.
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