Facebook Inc. (FB) Rating Reiterated by Nomura
Facebook Inc. (NASDAQ:FB)‘s stock had its “buy” rating reaffirmed by Nomura in a report released on Tuesday. They currently have a $155.00 target price on the social networking company’s stock. Nomura’s price target would suggest a potential upside of 21.53% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the company. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $136.45 price objective on the stock in a research note on Monday, September 12th. Societe Generale set a $80.00 price objective on Facebook and gave the stock a “sell” rating in a research note on Thursday, July 7th. Robert W. Baird upgraded Facebook to a “buy” rating in a research note on Monday, July 18th. Citigroup Inc. upped their price objective on Facebook from $148.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, September 19th. Finally, Macquarie reiterated an “outperform” rating and set a $155.00 price objective on shares of Facebook in a research note on Monday, October 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Facebook presently has an average rating of “Buy” and an average price target of $150.30.
Facebook (NASDAQ:FB) traded up 1.40% during midday trading on Tuesday, reaching $129.32. 7,531,036 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $128.34 and a 200 day moving average price of $120.39. Facebook has a 12 month low of $89.37 and a 12 month high of $131.98. The company has a market cap of $371.36 billion, a P/E ratio of 61.82 and a beta of 0.77.
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Facebook (NASDAQ:FB) last released its earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.15. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6 billion. Facebook had a return on equity of 14.38% and a net margin of 27.07%. The business’s quarterly revenue was up 59.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. On average, equities analysts anticipate that Facebook will post $3.94 EPS for the current year.
In other Facebook news, insider Christopher K. Cox sold 71,945 shares of the stock in a transaction on Monday, August 15th. The stock was sold at an average price of $124.12, for a total transaction of $8,929,813.40. Following the sale, the insider now directly owns 395,863 shares in the company, valued at approximately $49,134,515.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 15,600 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $121.08, for a total value of $1,888,848.00. Following the sale, the insider now owns 388,392 shares in the company, valued at $47,026,503.36. The disclosure for this sale can be found here. 19.08% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Stelac Advisory Services LLC acquired a new stake in shares of Facebook during the first quarter valued at approximately $106,000. Capital Advisors Ltd. LLC increased its stake in shares of Facebook by 182.2% in the third quarter. Capital Advisors Ltd. LLC now owns 1,092 shares of the social networking company’s stock valued at $140,000 after buying an additional 705 shares in the last quarter. Bartlett & Co. LLC increased its position 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 during the period. West Oak Capital LLC increased its position in Facebook by 53.3% in the third quarter. West Oak Capital LLC now owns 1,150 shares of the social networking company’s stock worth $148,000 after buying an additional 400 shares during the period. Finally, Kings Point Capital Management increased its position 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 during the period. Institutional investors and hedge funds own 56.63% 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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