Facebook Upgraded to “Focus List” by Credit Suisse (FB)
Facebook (NASDAQ:FB) was upgraded by research analysts at Credit Suisse from a “neutral” rating to a “focus list” rating in a report released on Tuesday, AnalystRatings.NET reports. The firm currently has a $87.00 target price on the stock, up from their previous target price of $65.00. Credit Suisse’s price target points to a potential upside of 45.53% from the stock’s previous close.
In other Facebook news, COO Sheryl Sandberg unloaded 283,334 shares of Facebook stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $62.87, for a total value of $17,813,208.58. Following the completion of the sale, the chief operating officer now directly owns 8,701,560 shares of the company’s stock, valued at approximately $547,067,077. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on FB. Analysts at Erste Group upgraded shares of Facebook to a “buy” rating in a research note on Monday. Separately, analysts at Ned Davis Research upgraded shares of Facebook from a “sell” rating to a “neutral” rating in a research note on Monday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Facebook in a research note on Friday, April 25th. They now have a $64.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $74.06.
Shares of Facebook (NASDAQ:FB) traded up 2.29% on Tuesday, hitting $61.15. The stock had a trading volume of 81,674,608 shares. Facebook has a 52 week low of $22.67 and a 52 week high of $72.59. The stock’s 50-day moving average is $62.00 and its 200-day moving average is $57.56. The company has a market cap of $155.6 billion and a price-to-earnings ratio of 77.34.
Facebook (NASDAQ:FB) last released its earnings data 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. Analysts expect that Facebook will post $1.43 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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