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Facebook (NASDAQ:FB)‘s stock had its “buy” rating restated by research analysts at Bank of America in a report released on Thursday, Analyst Ratings Network.com reports. They currently have a $84.00 price objective on the stock, up from their previous price objective of $82.00. Bank of America’s target price suggests a potential upside of 38.00% from the stock’s previous close.

The analysts wrote, “Revenue upside at $2.50bn vs. Street at $2.36bn, with EPS at $0.34 was well above Street at $0.24. Ad revenue growth accelerated to 82% (vs. 76% in 4Q) on a 200bps tougher comp, driven by a 118% increase in ad pricing (consistent with advertiser checks). Non-GAAP op. margins were 55% vs. 52% expected. Mobile ad revenue at $1.34bn exceeded our $1.21bn, and PC revenue also beat, up 8% y/y. FB did highlight tougher comps in 2014 and that revenue growth would decelerate, which may deter some new buyers (and the CFO is departing), but overall a clean quarter.”

Facebook (NASDAQ:FB) traded down 0.80% on Thursday, hitting $60.87. The stock had a trading volume of 138,769,344 shares. Facebook has a 52 week low of $22.67 and a 52 week high of $72.59. The stock has a 50-day moving average of $63.46 and a 200-day moving average of $57.23. The company has a market cap of $155.2 billion and a P/E ratio of 100.43.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, April 23rd. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 71.6% on a year-over-year basis. On average, analysts predict that Facebook will post $1.26 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at FBR Capital Markets raised their price target on shares of Facebook from $67.00 to $77.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Pivotal Research raised their price target on shares of Facebook from $72.00 to $74.00 in a research note on Thursday. Finally, analysts at Evercore Partners raised their price target on shares of Facebook from $64.00 to $69.00 in a research note on Thursday. They now have an “equal weight” rating on the stock. Seven investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $74.61.

In other Facebook news, COO Sheryl Sandberg unloaded 283,334 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $62.87, for a total transaction of $17,813,208.58. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Facebook, Inc (NASDAQ:FB) is engaged in building products to create utility for users, developers, and advertisers.

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