Royal Bank Of Canada Reaffirms Buy Rating for Facebook, Inc. (FB)
Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating reiterated by stock analysts at Royal Bank Of Canada in a note issued to investors on Friday. They presently have a $195.00 price target on the social networking company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 13.01% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Cowen and Company restated an “average” rating and issued a $200.00 price target (up previously from $195.00) on shares of Facebook in a report on Wednesday, September 27th. Cantor Fitzgerald set a $180.00 price target on shares of Facebook and gave the company a “buy” rating in a report on Tuesday, June 20th. Canaccord Genuity restated a “buy” rating and issued a $175.00 price target on shares of Facebook in a report on Friday, June 16th. Aegis boosted their price target on shares of Facebook from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, July 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $185.00 price target (up previously from $165.00) on shares of Facebook in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $185.38.
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 the 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 during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the previous year, the company earned $0.97 EPS. The firm’s quarterly revenue was up 44.8% on a year-over-year basis.
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In other Facebook news, CEO Mark Zuckerberg sold 248,984 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $170.69, for a total transaction of $42,499,078.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jan Koum sold 3,600,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $160.06, for a total transaction of $576,216,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,024,241 shares of company stock worth $1,499,994,651. 19.08% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. BP PLC increased its holdings in shares of Facebook by 6.3% in the 2nd quarter. BP PLC now owns 269,000 shares of the social networking company’s stock valued at $30,741,000 after acquiring an additional 16,000 shares during the period. HCR Wealth Advisors acquired a new position in shares of Facebook in the 4th quarter valued at $3,091,000. Ballentine Partners LLC increased its holdings in shares of Facebook by 13.8% in the 4th quarter. Ballentine Partners LLC now owns 9,117 shares of the social networking company’s stock valued at $955,000 after acquiring an additional 1,105 shares during the period. Nwam LLC increased its holdings in shares of Facebook by 31.6% in the 3rd quarter. Nwam LLC now owns 18,678 shares of the social networking company’s stock valued at $2,396,000 after acquiring an additional 4,481 shares during the period. Finally, Saturna Capital increased its holdings in shares of Facebook by 32.4% in the 3rd quarter. Saturna Capital now owns 43,145 shares of the social networking company’s stock valued at $3,879,000 after acquiring an additional 10,549 shares during the period. 57.26% of the stock is currently owned by 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.
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