Facebook, Inc. (FB) Raised to Buy at Vetr Inc.
Facebook, Inc. (NASDAQ:FB) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $174.15 price target on the social networking company’s stock. Vetr‘s target price indicates a potential upside of 3.80% from the stock’s current price.
Several other research analysts have also recently issued reports on FB. UBS AG set a $168.00 target price on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, May 4th. Cowen and Company reissued an “outperform” rating and set a $195.00 price target on shares of Facebook in a research report on Thursday, August 10th. Pivotal Research lowered shares of Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Robert W. Baird reissued an “outperform” rating and set a $185.00 price target (up from $163.00) on shares of Facebook in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered shares of Facebook from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have assigned a strong buy rating to the company’s stock. Facebook presently has a consensus rating of “Buy” and an average price target of $183.74.
Facebook (FB) traded up 0.22% during midday trading on Monday, hitting $167.78. 11,907,488 shares of the stock traded hands. Facebook has a 52-week low of $113.55 and a 52-week high of $175.49. The company has a market cap of $487.27 billion, a price-to-earnings ratio of 37.55 and a beta of 0.70. The firm’s 50-day moving average is $163.85 and its 200-day moving average is $148.79.
Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.19. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the business earned $0.97 EPS. The firm’s quarterly revenue was up 44.8% on a year-over-year basis. Analysts predict that Facebook will post $5.33 EPS for the current year.
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In other news, CEO Mark Zuckerberg sold 279,533 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $152.04, for a total transaction of $42,500,197.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $171.15, for a total value of $128,362.50. Following the transaction, the vice president now directly owns 90,087 shares of the company’s stock, valued at $15,418,390.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,686,398 shares of company stock valued at $2,052,460,180. Corporate insiders own 19.08% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FB. Arcadia Investment Management Corp MI increased its position in shares of Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares during the period. D. Scott Neal Inc. increased its position in shares of Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after buying an additional 679 shares during the period. Cohen Capital Management Inc. acquired a new position in shares of Facebook during the first quarter worth about $121,000. Farmers & Merchants Investments Inc. increased its position in shares of Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock worth $122,000 after buying an additional 34 shares during the period. Finally, Cable Hill Partners LLC increased its position in shares of Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock worth $129,000 after buying an additional 79 shares during the period. 57.40% of the stock is owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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