Facebook Price Target Cut to $78.00 by Analysts at Nomura (FB)
Nomura cut their target price on shares of Facebook (NASDAQ:FB) from $84.00 to $78.00 in a research note issued on Wednesday, AmericanBankingNews.com reports. Nomura’s target price points to a potential upside of 30.37% from the stock’s previous close.
Shares of Facebook (NASDAQ:FB) traded up 0.47% on Wednesday, hitting $60.11. 25,269,518 shares of the company’s stock traded hands. 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 $59.73 and its 200-day moving average is $58.08. The company has a market cap of $154.3 billion and a P/E ratio of 77.60.
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.
Several other analysts have also recently commented on the stock. Analysts at UBS AG initiated coverage on shares of Facebook in a research note on Tuesday. They set a “positive” rating on the stock. Separately, analysts at Credit Suisse upgraded shares of Facebook from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 7th. They now have a $87.00 price target on the stock, up previously from $65.00. Finally, analysts at RBC Capital upgraded shares of Facebook from an “underperform” rating to a “positive” rating in a research note on Thursday, May 1st. Eight research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $73.81.
In other Facebook news, VP David Fischer sold 36,000 shares of the stock on the open market in a transaction dated Thursday, May 8th. The shares were sold at an average price of $58.01, for a total value of $2,088,360.00. Following the completion of the transaction, the vice president now directly owns 378,796 shares in the company, valued at approximately $21,973,956. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.