Facebook, Inc. (FB) PT Set at $205.00 by Macquarie
Facebook, Inc. (NASDAQ:FB) has been given a $205.00 price objective by investment analysts at Macquarie in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the social networking company’s stock. Macquarie’s target price indicates a potential upside of 13.85% from the company’s previous close.
A number of other brokerages have also recently weighed in on FB. Zacks Investment Research cut Facebook from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and set a $200.00 price objective (up from $170.00) on shares of Facebook in a report on Thursday, July 27th. Wedbush reissued a “buy” rating on shares of Facebook in a report on Thursday, July 27th. Credit Suisse Group reissued a “buy” rating on shares of Facebook in a report on Wednesday, October 11th. Finally, Raymond James Financial, Inc. raised their price objective on Facebook from $180.00 to $215.00 and gave the company a “strong-buy” rating in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-five have issued a buy rating and two have issued a strong buy rating to the stock. Facebook has a consensus rating of “Buy” and an average price target of $195.14.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 21.73% and a net margin of 38.84%. Facebook’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period last year, the firm posted $1.09 EPS.
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In other news, Director Jan Koum sold 2,600,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $180.09, for a total value of $468,234,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $171.88, for a total value 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 90 days, insiders have sold 8,306,683 shares of company stock worth $1,441,300,245. Company insiders own 19.08% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of FB. Everett Harris & Co. CA raised its holdings in shares of Facebook by 4.7% in the first quarter. Everett Harris & Co. CA now owns 130,754 shares of the social networking company’s stock worth $18,574,000 after buying an additional 5,837 shares during the period. Tealwood Asset Management Inc. bought a new position in Facebook in the first quarter worth approximately $1,451,000. Parsec Financial Management Inc. grew its stake in Facebook by 17.9% in the first quarter. Parsec Financial Management Inc. now owns 30,598 shares of the social networking company’s stock worth $4,346,000 after purchasing an additional 4,651 shares in the last quarter. Gamble Jones Investment Counsel bought a new position in Facebook in the first quarter worth approximately $288,000. Finally, David R. Rahn & Associates Inc. bought a new position in Facebook in the first quarter worth approximately $1,391,000. Hedge funds and other institutional investors own 57.27% 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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