Facebook’s “Buy” Rating Reaffirmed at Stifel Nicolaus (FB)
Facebook (NASDAQ:FB)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a note issued to investors on Thursday, Stock Ratings Network reports. They currently have a $80.00 target price on the stock, down from their previous target price of $82.00. Stifel Nicolaus’ price objective points to a potential upside of 31.43% from the company’s current price.
The analysts wrote, “While Facebook reported what we view as strong 1Q results, the magnitude of the revenue beat was, for the first time since its 2Q-13 inflection quarter, not a blowout. To be clear, we believe Facebook remains one of the better stories out there in the broader market, but we no longer believe it is a stock that will go straight up. “We are reducing our target price from $82 to $80 as near-term valuation multiples may be limited by the CFO’s departure, the recent acquisitions of WhatsApp and Oculus at premium valuations, and increasingly difficult comps, which will force investors to assess the true long-term sustainable growth rate.”
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 1-year low of $22.67 and a 1-year 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 posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 71.6% on a year-over-year basis. Analysts expect that Facebook will post $1.26 EPS for the current fiscal year.
A number of other firms have also recently commented on FB. Analysts at Bank of America reiterated a “buy” rating on shares of Facebook in a research note on Thursday. They now have a $84.00 price target on the stock, up previously from $82.00. Separately, 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. Finally, analysts at Pivotal Research raised their price target on shares of Facebook from $72.00 to $74.00 in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. Facebook presently has a consensus rating of “Buy” and an average target price of $74.61.
In other Facebook news, COO Sheryl Sandberg unloaded 283,334 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $62.87, for a total value of $17,813,208.58. The sale was disclosed in a filing with the Securities & Exchange Commission, 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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