Piper Jaffray Companies Reiterates Buy Rating for Facebook, Inc. (FB)
Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating reissued by equities research analysts at Piper Jaffray Companies in a research note issued to investors on Friday. They presently have a $200.00 target price on the social networking company’s stock. Piper Jaffray Companies’ price target points to a potential upside of 11.78% from the stock’s previous close.
FB has been the subject of a number of other research reports. Credit Suisse Group reissued a “buy” rating on shares of Facebook in a research note on Wednesday, October 11th. Goldman Sachs Group, Inc. (The) set a $205.00 price target on shares of Facebook and gave the stock a “buy” rating in a report on Friday, October 20th. Robert W. Baird reaffirmed a “buy” rating and issued a $185.00 price target on shares of Facebook in a report on Friday, September 1st. Wedbush set a $225.00 price target on shares of Facebook and gave the stock a “buy” rating in a report on Monday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $170.00 price target (up from $150.00) on shares of Facebook in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating, forty-five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $196.04.
Shares of Facebook (FB) traded down $1.14 during trading hours on Friday, reaching $178.92. 35,119,841 shares of the company were exchanged, compared to its average volume of 17,315,178. The company has a market cap of $519.62 billion, a P/E ratio of 34.47, a P/E/G ratio of 1.28 and a beta of 0.67.
Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. Facebook’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.09 earnings per share. equities research analysts predict that Facebook will post 5.45 earnings per share for the current fiscal year.
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In other Facebook news, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $169.95, for a total transaction of $2,719,200.00. Following the transaction, the insider now directly owns 180,871 shares of the company’s stock, valued at approximately $30,739,026.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $164.21, for a total transaction of $123,157.50. Following the transaction, the vice president now directly owns 92,591 shares in the company, valued at $15,204,368.11. The disclosure for this sale can be found here. Insiders have sold a total of 8,306,683 shares of company stock worth $1,441,300,245 over the last quarter. 19.08% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI boosted its holdings 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 valued at $102,000 after acquiring an additional 120 shares in the last quarter. D. Scott Neal Inc. boosted its holdings 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 valued at $110,000 after acquiring an additional 679 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of Facebook in the third quarter valued at about $111,000. Farmers & Merchants Investments Inc. boosted its holdings 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 valued at $122,000 after acquiring an additional 34 shares in the last quarter. Finally, Pacific Center for Financial Services boosted its holdings in shares of Facebook by 10.7% in the first 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 in the last quarter. 57.27% 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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