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Facebook (NASDAQ:FB) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.

Shares of Facebook (NASDAQ:FB) opened at 75.9601 on Wednesday. Facebook has a 52-week low of $39.88 and a 52-week high of $76.74. The stock has a 50-day moving average of $71.73 and a 200-day moving average of $65.80. The company has a market cap of $197.5 billion and a P/E ratio of 79.72. Facebook also saw a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 35,303,147 shares, a decrease of 6.5% from the July 31st total of 37,776,463 shares. Based on an average daily volume of 31,639,979 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.8% of the shares of the company are short sold.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, July 23rd. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue 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 stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $74.96, for a total transaction of $46,850.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at S&P Equity Research reiterated an “average” rating on shares of Facebook in a research note on Friday, July 25th. They now have a $3.00 price target on the stock. Eight analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and an average price target of $80.08.

Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.

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