Facebook, Inc. (FB) Given “Buy” Rating at Cantor Fitzgerald
Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating reaffirmed by research analysts at Cantor Fitzgerald in a report released on Tuesday. They currently have a $190.00 target price on the social networking company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 5.65% from the stock’s previous close.
The analysts wrote, “Strong 3Q17 results expected. Our 3Q17 revenue and EBITDA estimates are $9,917.1M (+41.5% Y/Y) and $6,413.6M (61.5% margin) vs. consensus (FactSet) of $9,845.3M and $6,172.4M, respectively. The consensus range for revenue is $9,521.5-10,178.0M, and the range for EBITDA is $5,918.0-6,479.0M. Our model assumes MAU growth of 16.8% Y/Y to 2.089B and DAU/MAU (engagement) of 0.663. Our GAAP EPS estimate is $1.32 vs. consensus’ $1.27 (range $1.15-1.44).””
Several other equities research analysts have also recently issued reports on FB. Goldman Sachs Group, Inc. (The) set a $205.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research report on Friday, October 20th. Oppenheimer Holdings, Inc. raised their price objective on shares of Facebook from $170.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. JMP Securities restated an “outperform” rating and set a $195.00 price objective (up from $170.00) on shares of Facebook in a research report on Thursday, July 27th. Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $174.15 price objective for the company in a research report on Monday, August 28th. Finally, BidaskClub upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $186.72.
Shares of Facebook (NASDAQ:FB) traded up 0.14% during mid-day trading on Tuesday, reaching $180.12. 12,922,446 shares of the company’s stock were exchanged. Facebook has a 1-year low of $113.55 and a 1-year high of $180.80. The stock has a market capitalization of $523.10 billion, a PE ratio of 40.31 and a beta of 0.70. The company’s 50 day moving average is $171.82 and its 200 day moving average is $161.20.
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In related news, VP David B. Fischer sold 50,533 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $169.95, for a total value of $8,588,083.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $171.88, for a total transaction of $128,910.00. Following the completion of the sale, the vice president now owns 82,406 shares in the company, valued at $14,163,943.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,705,933 shares of company stock worth $972,931,125. 19.08% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI increased its stake in shares of Facebook by 20.0% during the 1st quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock valued at $102,000 after acquiring an additional 120 shares during the last quarter. D. Scott Neal Inc. increased its stake in shares of Facebook by 1,358.0% during the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after acquiring an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of Facebook by 4.4% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after acquiring an additional 34 shares during the last quarter. Pacific Center for Financial Services increased its stake in shares of Facebook by 10.7% during the 1st quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after acquiring an additional 88 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in shares of Facebook during the 2nd quarter valued at about $138,000. 57.27% of the stock is owned by hedge funds and other institutional investors.
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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