Facebook Inc. (FB) Given Consensus Recommendation of “Buy” by Analysts
Facebook Inc. (NASDAQ:FB) has earned a consensus rating of “Buy” from the fifty-four brokerages that are currently covering the company. One equities 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 given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $151.46.
Several research firms have commented on FB. Cowen and Company restated a “buy” rating and issued a $145.00 target price on shares of Facebook in a research report on Sunday, July 17th. MKM Partners restated a “buy” rating on shares of Facebook in a research report on Sunday, July 24th. Deutsche Bank AG restated a “buy” rating on shares of Facebook in a research report on Sunday, July 10th. Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $127.69 target price for the company in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. set a $170.00 target price on shares of Facebook and gave the stock a “buy” rating in a research report on Thursday, July 28th.
Shares of Facebook (NASDAQ:FB) traded up 1.279% during midday trading on Wednesday, reaching $130.215. The company had a trading volume of 11,009,344 shares. Facebook has a 1-year low of $89.37 and a 1-year high of $131.98. The stock has a market capitalization of $373.93 billion, a price-to-earnings ratio of 62.244 and a beta of 0.77. The firm’s 50 day moving average price is $128.40 and its 200-day moving average price is $120.48.
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Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 27th. The social networking company reported $0.97 EPS for the quarter, topping the 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 earned $6.44 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. Facebook’s quarterly revenue was up 59.2% on a year-over-year basis. Equities research analysts expect that Facebook will post $3.94 EPS for the current fiscal year.
In other news, CAO Jas Athwal sold 4,923 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $124.07, for a total value of $610,796.61. Following the completion of the transaction, the chief accounting officer now owns 125,394 shares of the company’s stock, valued at $15,557,633.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jan Koum sold 1,566,668 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $129.70, for a total value of $203,196,839.60. The disclosure for this sale can be found here. Corporate insiders own 19.08% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FB. Stelac Advisory Services LLC purchased a new stake in Facebook during the first quarter worth $106,000. Farmers & Merchants Investments Inc. increased its stake in Facebook by 11.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 901 shares of the social networking company’s stock worth $116,000 after buying an additional 96 shares in the last quarter. Bartlett & Co. LLC increased its stake 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 in the last quarter. Kings Point Capital Management increased its stake 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 in the last quarter. Finally, Balentine LLC increased its stake in Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock worth $139,000 after buying an additional 1,015 shares in 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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