Facebook Inc. (FB) Rating Reiterated by Robert W. Baird
Facebook Inc. (NASDAQ:FB)‘s stock had its “outperform” rating reiterated by stock analysts at Robert W. Baird in a research note issued to investors on Tuesday. They currently have a $155.00 target price on the social networking company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 21.53% from the company’s previous close.
Several other research firms also recently weighed in on FB. JPMorgan Chase & Co. reissued an “overweight” rating and set a $170.00 price target on shares of Facebook in a research report on Friday, September 9th. Loop Capital started coverage on Facebook in a report on Thursday, September 22nd. They set a “buy” rating and a $165.00 price objective on the stock. They noted that the move was a valuation call. Credit Agricole SA restated a “buy” rating on shares of Facebook in a report on Friday, September 23rd. Vetr cut Facebook from a “buy” rating to a “hold” rating and set a $134.63 price objective on the stock. in a report on Tuesday, September 6th. Finally, Morgan Stanley raised their price objective on Facebook from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $150.30.
Shares of Facebook (NASDAQ:FB) traded up 1.27% during trading on Tuesday, hitting $129.16. The stock had a trading volume of 8,583,733 shares. The stock’s 50 day moving average is $128.34 and its 200-day moving average is $120.39. The company has a market cap of $370.90 billion, a PE ratio of 61.74 and a beta of 0.77. Facebook has a 12-month low of $89.37 and a 12-month high of $131.98.
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Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, beating the 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 earned $6.44 billion during the quarter, compared to the consensus estimate of $6 billion. During the same period last year, the business posted $0.50 EPS. Facebook’s quarterly revenue was up 59.2% on a year-over-year basis. Analysts forecast that Facebook will post $3.94 earnings per share for the current year.
In other Facebook news, insider Christopher K. Cox sold 15,600 shares of the firm’s 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 transaction, the insider now directly owns 388,392 shares of the company’s stock, valued at $47,026,503.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Todd Schroepfer sold 90,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $123.85, for a total transaction of $11,146,500.00. Following the completion of the transaction, the insider now directly owns 666,661 shares in the company, valued at $82,565,964.85. The disclosure for this sale can be found here. Corporate insiders own 19.08% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $15,940,195,000 after buying an additional 3,400,653 shares in the last quarter. State Street Corp increased its stake 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 valued at $9,792,722,000 after buying an additional 1,950,433 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake 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 valued at $6,793,722,000 after buying an additional 995,651 shares in the last quarter. 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 valued at $3,786,244,000 after buying an additional 9,686,624 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake 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 valued at $2,210,464,000 after buying an additional 690,650 shares in the last quarter. 56.63% of the stock is currently 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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