Facebook’s (FB) Outperform Rating Reaffirmed at Robert W. Baird
Facebook Inc. (NASDAQ:FB)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Robert W. Baird in a research note issued to investors on Tuesday. They presently have a $155.00 price target on the social networking company’s stock. Robert W. Baird’s price target indicates a potential upside of 21.53% from the company’s previous close.
Several other analysts also recently commented on FB. Royal Bank Of Canada reissued a “buy” rating and issued a $165.00 price objective on shares of Facebook in a research note on Tuesday, June 21st. Bank of America Corp. reissued a “buy” rating and issued a $153.07 price objective (up from $123.94) on shares of Facebook in a research note on Monday, August 1st. Goldman Sachs Group Inc. increased their price objective on Facebook from $142.00 to $162.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. William Blair reissued an “outperform” rating on shares of Facebook in a research note 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 note on Sunday, July 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Facebook presently has an average rating of “Buy” and a consensus price target of $150.30.
Facebook (NASDAQ:FB) traded up 1.240% during trading on Tuesday, reaching $129.121. The company had a trading volume of 8,366,360 shares. Facebook has a 12-month low of $89.37 and a 12-month high of $131.98. The firm’s 50 day moving average price is $128.34 and its 200 day moving average price is $120.39. The firm has a market capitalization of $370.79 billion, a PE ratio of 61.721 and a beta of 0.77.
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Facebook (NASDAQ:FB) last posted its quarterly 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 business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6 billion. During the same period in the prior year, the business earned $0.50 EPS. The firm’s revenue for the quarter was up 59.2% on a year-over-year basis. Analysts anticipate that Facebook will post $3.94 earnings per share for the current year.
In related news, VP David B. Fischer sold 31,500 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $123.58, for a total value of $3,892,770.00. Following the sale, the vice president now directly owns 218,648 shares of the company’s stock, valued at approximately $27,020,519.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher K. Cox sold 15,600 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $121.08, for a total transaction of $1,888,848.00. Following the completion of the sale, the insider now directly owns 388,392 shares in the company, valued at $47,026,503.36. The disclosure for this sale can be found here. Company insiders own 19.08% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. 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. Third Point LLC bought a new position in shares of Facebook during the second quarter worth approximately $428,550,000. Vanguard Group Inc. raised its position 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. bought a new position in shares of Facebook during the second quarter worth approximately $369,509,000. Finally, 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. 56.63% of the stock is currently owned by 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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