Facebook Inc. (FB) Stock Rating Reaffirmed by Citigroup Inc.
Facebook Inc. (NASDAQ:FB)‘s stock had its “buy” rating reaffirmed by analysts at Citigroup Inc. in a research report issued on Wednesday. They presently have a $158.00 price target on the social networking company’s stock. Citigroup Inc.’s price target indicates a potential upside of 22.59% from the stock’s current price.
FB has been the subject of several other research reports. Cowen and Company reiterated a “buy” rating and set a $145.00 price target on shares of Facebook in a report on Sunday, July 17th. MKM Partners reiterated a “buy” rating on shares of Facebook in a report on Sunday, July 24th. Deutsche Bank AG reiterated a “buy” rating on shares of Facebook in a report on Sunday, July 10th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $127.69 price target for the company in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $170.00 price target on Facebook and gave the stock a “buy” rating in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $149.99.
Shares of Facebook (NASDAQ:FB) traded up 0.13% during trading on Wednesday, hitting $129.05. The stock had a trading volume of 10,943,644 shares. Facebook has a 52 week low of $89.37 and a 52 week high of $131.98. The company has a market capitalization of $370.59 billion, a price-to-earnings ratio of 61.69 and a beta of 0.77. The company’s 50 day moving average price is $127.89 and its 200 day moving average price is $120.00.
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Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.15. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. Facebook’s revenue for the quarter was up 59.2% on a year-over-year basis. Analysts predict that Facebook will post $3.94 earnings per share for the current year.
In other Facebook news, Director Jan Koum sold 566,668 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $128.22, for a total transaction of $72,658,170.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David B. Fischer sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $128.78, for a total value of $4,507,300.00. Following the sale, the vice president now owns 169,686 shares in the company, valued at $21,852,163.08. The disclosure for this sale can be found here. 19.08% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Capital World Investors increased its stake 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. Third Point LLC bought a new stake in shares of Facebook during the second quarter worth about $428,550,000. Vanguard Group Inc. increased 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 worth $15,940,195,000 after buying an additional 3,400,653 shares during the period. Emerald Acquisition Ltd. acquired a new position in Facebook during the second quarter worth approximately $369,509,000. Finally, State Street Corp boosted its position in 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 in the last quarter. Institutional investors and hedge funds 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.
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