Nomura Reaffirms Buy Rating for Facebook Inc. (FB)
Facebook Inc. (NASDAQ:FB)‘s stock had its “buy” rating reaffirmed by Nomura in a research note issued on Tuesday. They presently have a $155.00 price target on the social networking company’s stock. Nomura’s target price would indicate a potential upside of 21.53% from the stock’s previous close.
A number of other research firms have also weighed in on FB. Royal Bank Of Canada reissued a “buy” rating and set a $165.00 price target on shares of Facebook in a research report on Tuesday, June 21st. Bank of America Corp. reissued a “buy” rating and set a $153.07 price target (up from $123.94) on shares of Facebook in a research report on Monday, August 1st. Goldman Sachs Group Inc. raised their price target on shares of Facebook from $142.00 to $162.00 and gave the company 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 set a $145.00 price target 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 given a hold rating, forty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Facebook has an average rating of “Buy” and an average price target of $150.30.
Shares of Facebook (NASDAQ:FB) traded up 1.2048% on Tuesday, reaching $129.0766. 6,932,386 shares of the company were exchanged. The firm has a market capitalization of $370.66 billion, a PE ratio of 61.7001 and a beta of 0.77. The company’s 50 day moving average is $128.34 and its 200 day moving average is $120.39. 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 issued its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.15. The firm earned $6.44 billion during the quarter, compared to analysts’ expectations of $6 billion. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The business’s revenue was up 59.2% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. Analysts forecast that Facebook will post $3.94 earnings per share for the current year.
In other Facebook news, VP David B. Fischer sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $130.32, for a total value of $4,561,200.00. Following the completion of the transaction, the vice president now directly owns 204,686 shares of the company’s stock, valued at $26,674,679.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher K. Cox sold 15,600 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 388,392 shares of the company’s stock, valued at $47,026,503.36. The disclosure for this sale can be found here. 19.08% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Algert Global LLC bought a new position in shares of Facebook during the first quarter worth about $235,000. Wrapmanager Inc. increased its position in shares of Facebook by 31.2% in the first quarter. Wrapmanager Inc. now owns 2,638 shares of the social networking company’s stock worth $301,000 after buying an additional 628 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA increased its position in shares of Facebook by 0.6% in the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 58,820 shares of the social networking company’s stock worth $6,916,000 after buying an additional 345 shares during the last quarter. Willingdon Wealth Management increased its position in shares of Facebook by 17.2% in the first quarter. Willingdon Wealth Management now owns 15,543 shares of the social networking company’s stock worth $1,773,000 after buying an additional 2,280 shares during the last quarter. Finally, RMB Capital Management LLC increased its position in shares of Facebook by 1.0% in the first quarter. RMB Capital Management LLC now owns 4,968 shares of the social networking company’s stock worth $567,000 after buying an additional 48 shares during the last quarter. 56.63% of the stock is owned by institutional investors.
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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