Macquarie Reaffirms Outperform Rating for Facebook Inc. (FB)
Facebook Inc. (NASDAQ:FB)‘s stock had its “outperform” rating reissued by Macquarie in a research note issued on Monday. They presently 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 equities research analysts have also weighed in on the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $165.00 target price on shares of Facebook in a research report on Tuesday, June 21st. Bank of America Corp. reaffirmed a “buy” rating and issued a $153.07 target price (up from $123.94) on shares of Facebook in a research report on Monday, August 1st. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $121.02 target price on the stock in a research report on Monday, June 13th. Goldman Sachs Group Inc. increased their target price on Facebook from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, William Blair reaffirmed an “outperform” rating on shares of Facebook in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-four have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $149.99.
Shares of Facebook (NASDAQ:FB) traded up 0.33% during midday trading on Monday, hitting $129.41. 1,260,922 shares of the company’s stock traded hands. The company has a 50 day moving average of $127.57 and a 200 day moving average of $119.71. Facebook has a 52 week low of $89.37 and a 52 week high of $131.98. The stock has a market cap of $371.62 billion, a P/E ratio of 61.86 and a beta of 0.77.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/macquarie-reaffirms-outperform-rating-for-facebook-inc-fb.html
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 59.2% on a year-over-year basis. On average, equities analysts forecast that Facebook will post $3.94 EPS for the current fiscal year.
In other news, VP Colin Stretch sold 400 shares of the stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $125.00, for a total transaction of $50,000.00. Following the completion of the sale, the vice president now directly owns 88,940 shares in the company, valued at $11,117,500. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David B. Fischer sold 35,000 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $128.78, for a total transaction of $4,507,300.00. Following the sale, the vice president now owns 169,686 shares of the company’s stock, valued at $21,852,163.08. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of FB. Stelac Advisory Services LLC purchased a new stake in Facebook during the first quarter worth $106,000. Bartlett & Co. LLC raised its stake in 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 in the last quarter. Kings Point Capital Management raised its stake in 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 in the last quarter. Balentine LLC raised its stake in 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 in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in 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 own 56.61% of the company’s stock.
Facebook Company Profile
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.
Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.