Facebook’s “Buy” Rating Reaffirmed at Cantor Fitzgerald (FB)
Facebook (NASDAQ:FB) opened at 59.21 on Tuesday. 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 $59.39 and its 200-day moving average is $58.34. The company has a market cap of $152.0 billion and a price-to-earnings ratio of 75.25.
Facebook (NASDAQ:FB) last released its earnings data on Wednesday, April 23rd. The company reported $0.34 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.12 earnings per share. Facebook’s revenue was up 71.6% compared to the same quarter last year. On average, analysts predict that Facebook will post $1.43 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse upgraded shares of Facebook from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 15th. They now have a $87.00 price target on the stock, up previously from $65.00. Separately, analysts at Citigroup Inc. initiated coverage on shares of Facebook in a research note on Wednesday, May 14th. They set a “positive” rating on the stock. Finally, analysts at Nomura cut their price target on shares of Facebook from $84.00 to $78.00 in a research note on Wednesday, May 14th. Eight investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $73.29.
In other Facebook news, Insider Christopher K. Cox sold 59,460 shares of Facebook stock on the open market in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $58.34, for a total value of $3,468,896.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Facebook, Inc (NASDAQ:FB) is engaged in building products to create utility for users, developers, and advertisers.
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