Facebook, Inc. (FB) Given “Buy” Rating at Needham & Company LLC
Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Thursday. They presently have a $185.00 price target on the social networking company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 8.04% from the stock’s previous close.
Several other equities analysts have also commented on FB. Oppenheimer Holdings, Inc. increased their price objective on Facebook from $170.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. JMP Securities restated an “outperform” rating and set a $195.00 target price (up from $170.00) on shares of Facebook in a report on Thursday, July 27th. Vetr upgraded Facebook from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a report on Monday, August 28th. BidaskClub upgraded Facebook from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Finally, Robert W. Baird restated a “buy” rating and set a $185.00 target price on shares of Facebook in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have issued a buy rating and three have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $185.38.
Facebook (NASDAQ:FB) traded up 1.67% on Thursday, reaching $171.24. The company’s stock had a trading volume of 14,428,603 shares. The firm has a 50 day moving average of $169.75 and a 200 day moving average of $156.80. The firm has a market cap of $497.31 billion, a price-to-earnings ratio of 38.33 and a beta of 0.70. Facebook has a 12 month low of $113.55 and a 12 month high of $175.49.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company had revenue of $9.32 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the company posted $0.97 EPS. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. Analysts anticipate that Facebook will post $5.37 earnings per share for the current year.
In other news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $153.36, for a total transaction of $115,020.00. Following the transaction, the vice president now directly owns 85,406 shares in the company, valued at $13,097,864.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $149.93, for a total transaction of $2,398,880.00. Following the transaction, the insider now owns 184,965 shares in the company, valued at $27,731,802.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,916,933 shares of company stock valued at $2,121,180,386. 19.08% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its position in Facebook by 283.6% during the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock worth $1,794,857,000 after purchasing an additional 8,788,743 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Facebook by 3.3% in the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares in the last quarter. BlackRock Inc. increased its position in shares of Facebook by 3.0% in the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares in the last quarter. Harbour Capital Advisors LLC increased its position in shares of Facebook by 15,047.5% in the second quarter. Harbour Capital Advisors LLC now owns 2,540,691 shares of the social networking company’s stock worth $16,828,000 after acquiring an additional 2,523,918 shares in the last quarter. Finally, Magellan Asset Management Ltd increased its position in shares of Facebook by 28.4% in the second quarter. Magellan Asset Management Ltd now owns 10,686,955 shares of the social networking company’s stock worth $1,613,516,000 after acquiring an additional 2,361,166 shares in the last quarter. Institutional investors own 57.26% of the company’s stock.
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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