Facebook Earns Outperform Rating from William Blair (FB)
Facebook (NASDAQ:FB)‘s stock had its “outperform” rating reiterated by investment analysts at William Blair in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $82.50 target price on the stock, up from their previous target price of $74.84. William Blair’s price target points to a potential upside of 10.55% from the company’s current price. The analysts noted that the move was a valuation call.
FB has been the subject of a number of other recent research reports. Analysts at Janney Montgomery Scott downgraded shares of Facebook from a “buy” rating to a “neutral” rating in a research note on Wednesday. They now have a $82.50 price target on the stock. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Facebook in a research note on Wednesday, August 13th. They set a “buy” rating and a $95.00 price target on the stock. Finally, analysts at Zacks upgraded shares of Facebook from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 7th. They now have a $87.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company. Facebook has an average rating of “Buy” and an average target price of $80.21.
Shares of Facebook (NASDAQ:FB) traded down 1.75% on Wednesday, hitting $74.63. 36,178,328 shares of the company’s stock traded hands. Facebook has a 1-year low of $39.88 and a 1-year high of $76.74. The stock’s 50-day moving average is $71.73 and its 200-day moving average is $65.80. The company has a market cap of $194.0 billion and a price-to-earnings ratio of 80.72. Facebook also saw a significant drop in short interest in August. As of August 15th, there was short interest totalling 35,303,147 shares, a drop of 6.5% from the July 31st total of 37,776,463 shares. Based on an average trading volume of 31,639,979 shares, the short-interest ratio is currently 1.1 days. Currently, 1.8% of the shares of the stock are short sold.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.10. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 60.5% on a year-over-year basis. Analysts expect that Facebook will post $1.62 EPS for the current fiscal year.
In other Facebook news, Director Susan Desmond-Hellmann sold 625 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $74.96, for a total value of $46,850.00. The sale was disclosed in a document filed 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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