Needham & Company LLC Reiterates Buy Rating for Facebook Inc. (FB)
Facebook Inc. (NASDAQ:FB)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday. They currently have a $150.00 target price on the social networking company’s stock. Needham & Company LLC’s price target points to a potential upside of 16.39% from the stock’s current price.
A number of other analysts have also commented on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $165.00 price objective on shares of Facebook in a research report on Tuesday, June 21st. Bank of America Corp. reissued a “buy” rating and issued a $153.07 price objective (up previously from $123.94) on shares of Facebook in a research report on Monday, August 1st. Goldman Sachs Group Inc. boosted their price objective on shares of Facebook from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. William Blair reissued an “outperform” rating on shares of Facebook in a research report on Thursday, July 28th. Finally, Cowen and Company reissued a “buy” rating and issued a $145.00 price objective on shares of Facebook in a research report on Sunday, July 17th. One equities research 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 stock. Facebook currently has a consensus rating of “Buy” and an average price target of $149.99.
Shares of Facebook (NASDAQ:FB) traded up 0.2092% during mid-day trading on Wednesday, hitting $129.1496. 5,920,425 shares of the stock traded hands. Facebook has a 52 week low of $89.37 and a 52 week 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 company has a market cap of $370.87 billion, a price-to-earnings ratio of 61.7350 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 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 firm 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 firm posted $0.50 earnings per share. The business’s revenue was up 59.2% on a year-over-year basis. Analysts anticipate that Facebook will post $3.94 EPS for the current year.
In other Facebook news, CTO Michael Todd Schroepfer sold 51,283 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $117.30, for a total transaction of $6,015,495.90. Following the completion of the transaction, the chief technology officer now owns 579,862 shares in the company, valued at approximately $68,017,812.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David B. Fischer sold 7,821 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $117.18, for a total value of $916,464.78. Following the transaction, the vice president now owns 242,219 shares of the company’s stock, valued at approximately $28,383,222.42. The disclosure for this sale can be found here. 19.08% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in FB. Waverton Investment Management Ltd boosted its position in Facebook by 22.4% in the third quarter. Waverton Investment Management Ltd now owns 341,731 shares of the social networking company’s stock valued at $43,834,000 after buying an additional 62,429 shares in the last quarter. Bristlecone Advisors LLC raised its stake in Facebook by 2.0% in the third quarter. Bristlecone Advisors LLC now owns 27,910 shares of the social networking company’s stock valued at $3,580,000 after buying an additional 540 shares during the last quarter. Grassi Investment Management raised its stake in Facebook by 10.2% in the third quarter. Grassi Investment Management now owns 25,655 shares of the social networking company’s stock valued at $3,291,000 after buying an additional 2,375 shares during the last quarter. Raymond James Trust N.A. raised its stake in Facebook by 12.6% in the third quarter. Raymond James Trust N.A. now owns 25,590 shares of the social networking company’s stock valued at $3,283,000 after buying an additional 2,856 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC raised its stake in Facebook by 7.1% in the third quarter. Dynamic Advisors Solutions LLC now owns 6,373 shares of the social networking company’s stock valued at $817,000 after buying an additional 420 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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