Facebook Given Consensus Rating of “Buy” by Brokerages (NASDAQ:FB)
Facebook (NASDAQ:FB) has been given a consensus recommendation of “Buy” by the forty-nine analysts that are covering the stock, American Banking News reports. Eight investment analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $74.71.
FB has been the subject of a number of recent research reports. Analysts at Tigress Financial downgraded shares of Facebook from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 9th. Separately, analysts at Pivotal Research raised their price target on shares of Facebook from $74.00 to $81.00 in a research note on Wednesday, July 9th. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Facebook in a research note on Thursday, July 3rd.
Shares of Facebook (NASDAQ:FB) opened at 66.34 on Thursday. Facebook has a 52-week low of $25.60 and a 52-week high of $72.59. The stock has a 50-day moving average of $64.77 and a 200-day moving average of $62.37. The company has a market cap of $170.3 billion and a P/E ratio of 84.14. Facebook also saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 42,006,456 shares, a drop of 7.3% from the June 13th total of 45,336,583 shares. Based on an average daily volume of 39,366,321 shares, the days-to-cover ratio is presently 1.1 days. Currently, 2.2% of the company’s shares are sold short.
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. Analysts expect that Facebook will post $1.43 EPS for the current fiscal year.
In other Facebook news, CTO Michael Todd Schroepfer unloaded 20,000 shares of Facebook stock on the open market in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $65.06, for a total transaction of $1,301,200.00. The transaction 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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