Facebook Inc. (FB) Given Outperform Rating at Macquarie
Facebook Inc. (NASDAQ:FB)‘s stock had its “outperform” rating reiterated by equities researchers at Macquarie in a research report issued on Monday. They currently have a $155.00 price target on the social networking company’s stock. Macquarie’s price target indicates a potential upside of 20.16% from the stock’s current price.
Several other analysts also recently commented on FB. Vetr raised shares of Facebook from a “hold” rating to a “buy” rating and set a $136.45 target price for the company in a research report on Monday, September 12th. Societe Generale set a $80.00 price objective on shares of Facebook and gave the stock a “sell” rating in a report on Thursday, July 7th. Robert W. Baird raised shares of Facebook to a “buy” rating in a report on Monday, July 18th. Citigroup Inc. upped their price objective on shares of Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a report on Monday, September 19th. Finally, Jefferies Group set a $170.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, August 4th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, forty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and a consensus target price of $149.99.
Shares of Facebook (NASDAQ:FB) opened at 129.4699 on Monday. The company’s 50-day moving average is $127.57 and its 200 day moving average is $119.71. The stock has a market cap of $371.79 billion, a P/E ratio of 61.8881 and a beta of 0.77. Facebook has a 1-year low of $89.37 and a 1-year high of $131.98.
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Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.15. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm’s revenue was up 59.2% compared to the same quarter last year. Equities research analysts anticipate that Facebook will post $3.94 EPS for the current year.
In other Facebook news, VP Colin Stretch sold 400 shares of Facebook stock in a transaction on Friday, August 26th. The stock was sold at an average price of $125.00, for a total transaction of $50,000.00. Following the completion of the transaction, the vice president now owns 88,940 shares in the company, valued at $11,117,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jan Koum sold 1,721,436 shares of Facebook stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $118.13, for a total value of $203,353,234.68. The disclosure for this sale can be found here. 19.08% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Stelac Advisory Services LLC bought a new position in shares of Facebook during the first quarter worth about $106,000. Bartlett & Co. LLC boosted its position in shares of Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock worth $128,000 after buying an additional 91 shares during the last quarter. Kings Point Capital Management boosted its position in shares of Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock worth $136,000 after buying an additional 200 shares during the last quarter. Balentine LLC boosted its position in shares of Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock worth $139,000 after buying an additional 1,015 shares during the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock worth $140,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 56.61% of the company’s stock.
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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