MKM Partners Reiterates Buy Rating for Facebook, Inc. (NASDAQ:FB)
Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating restated by equities researchers at MKM Partners in a note issued to investors on Monday.
FB has been the subject of a number of other reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $185.00 price objective on shares of Facebook in a research report on Saturday, June 3rd. Barclays PLC reiterated an “overweight” rating and issued a $168.00 price objective (up from $160.00) on shares of Facebook in a research report on Wednesday, July 12th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $159.91 price objective for the company in a research report on Tuesday, June 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $192.00 price objective (up from $175.00) on shares of Facebook in a research report on Thursday, July 27th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $155.00 price objective on shares of Facebook in a research report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, forty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and a consensus target price of $180.91.
Facebook (NASDAQ:FB) traded up 1.39% during trading on Monday, hitting $171.98. 12,787,844 shares of the stock traded hands. Facebook has a 52 week low of $113.55 and a 52 week high of $175.49. The firm’s 50-day moving average is $157.40 and its 200 day moving average is $145.43. The stock has a market cap of $499.46 billion, a P/E ratio of 38.49 and a beta of 0.70.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.19. The business had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. Equities research analysts forecast that Facebook will post $5.33 earnings per share for the current fiscal year.
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In other news, CEO Mark Zuckerberg sold 286,387 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $148.40, for a total transaction of $42,499,830.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan Desmond-Hellmann sold 209 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $144.67, for a total value of $30,236.03. The disclosure for this sale can be found here. Insiders have sold 10,205,032 shares of company stock valued at $1,610,153,882 over the last 90 days. 19.08% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of the company. HCR Wealth Advisors acquired a new stake in Facebook during the fourth quarter valued at approximately $3,091,000. Independent Advisor Alliance acquired a new stake in Facebook during the fourth quarter valued at approximately $6,418,000. M Holdings Securities Inc. boosted its stake in Facebook by 15.4% in the fourth quarter. M Holdings Securities Inc. now owns 14,088 shares of the social networking company’s stock valued at $1,621,000 after buying an additional 1,885 shares in the last quarter. Howard Capital Management boosted its stake in Facebook by 2.8% in the first quarter. Howard Capital Management now owns 134,712 shares of the social networking company’s stock valued at $19,136,000 after buying an additional 3,726 shares in the last quarter. Finally, Patten & Patten Inc. TN boosted its stake in Facebook by 14.0% in the first quarter. Patten & Patten Inc. TN now owns 9,785 shares of the social networking company’s stock valued at $1,390,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 57.60% of the company’s stock.
Facebook Company Profile
Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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