Facebook Inc. (FB) Receives Overweight Rating from Morgan Stanley
Facebook Inc. (NASDAQ:FB)‘s stock had its “overweight” rating reiterated by research analysts at Morgan Stanley in a report issued on Wednesday. They currently have a $160.00 price target on the social networking company’s stock. Morgan Stanley’s target price suggests a potential upside of 24.15% from the stock’s current price.
Several other equities research analysts have also recently weighed in on the stock. SunTrust Banks Inc. reiterated a “buy” rating and set a $135.00 price objective on shares of Facebook in a research report on Wednesday, July 6th. Cantor Fitzgerald reissued a “buy” rating and set a $150.00 target price on shares of Facebook in a research note on Tuesday, July 5th. Pivotal Research reaffirmed a “buy” rating and issued a $166.00 price objective (up from $157.00) on shares of Facebook in a research note on Monday, July 11th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $165.00 price objective on shares of Facebook in a research note on Tuesday, June 21st. Finally, MKM Partners reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Facebook in a research note on Wednesday, June 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and an average price target of $149.99.
Facebook (NASDAQ:FB) opened at 128.88 on Wednesday. Facebook has a 1-year low of $89.37 and a 1-year high of $131.98. The stock has a 50 day moving average of $127.89 and a 200-day moving average of $120.00. The firm has a market capitalization of $370.10 billion, a P/E ratio of 61.61 and a beta of 0.77.
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Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm earned $6.44 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue was up 59.2% on a year-over-year basis. On average, equities research analysts anticipate that Facebook will post $3.94 earnings per share for the current year.
In related news, CAO Jas Athwal sold 4,923 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $124.07, for a total value of $610,796.61. Following the completion of the sale, the chief accounting officer now directly owns 125,394 shares of the company’s stock, valued at $15,557,633.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jan Koum sold 566,668 shares of the business’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $128.22, for a total value of $72,658,170.96. The disclosure for this sale can be found here. Company insiders own 19.08% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Facebook by 2.5% in the second quarter. Vanguard Group Inc. now owns 139,483,685 shares of the social networking company’s stock valued at $15,940,195,000 after buying an additional 3,400,653 shares in the last quarter. State Street Corp raised its position in shares of Facebook by 2.3% in the first quarter. State Street Corp now owns 85,825,821 shares of the social networking company’s stock worth $9,792,722,000 after buying an additional 1,950,433 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Facebook by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 59,448,041 shares of the social networking company’s stock worth $6,793,722,000 after buying an additional 995,651 shares during the period. Capital World Investors raised its position in shares of Facebook by 41.3% in the second quarter. Capital World Investors now owns 33,131,292 shares of the social networking company’s stock worth $3,786,244,000 after buying an additional 9,686,624 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Facebook by 3.7% in the first quarter. Geode Capital Management LLC now owns 19,410,677 shares of the social networking company’s stock worth $2,210,464,000 after buying an additional 690,650 shares during the period. 56.61% of the stock is owned by hedge funds and other institutional investors.
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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