Facebook (FB) Price Target Raised to $240.00 at MKM Partners

Facebook (NASDAQ:FB) had its target price upped by MKM Partners to $240.00 in a research report issued on Friday. The brokerage currently has a “buy” rating on the social networking company’s stock. MKM Partners’ price target suggests a potential upside of 35.46% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. Goldman Sachs Group set a $205.00 price target on shares of Facebook and gave the stock a “buy” rating in a report on Friday, October 20th. Morgan Stanley set a $200.00 price target on shares of Facebook and gave the stock a “buy” rating in a report on Thursday, November 2nd. Wedbush set a $225.00 price target on shares of Facebook and gave the stock a “buy” rating in a report on Monday, October 30th. Needham & Company LLC lifted their price target on shares of Facebook from $185.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, November 2nd. Finally, Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $174.15 price target for the company in a report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $199.18.

Shares of Facebook (NASDAQ:FB) traded up $2.05 on Friday, reaching $177.18. 25,307,600 shares of the company’s stock were exchanged, compared to its average volume of 16,871,432. The firm has a market capitalization of $530,077.50, a PE ratio of 35.15, a P/E/G ratio of 1.16 and a beta of 0.67. Facebook has a one year low of $114.00 and a one year high of $184.25.

Facebook (NASDAQ:FB) last announced its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (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 analysts’ expectations of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. sell-side analysts forecast that Facebook will post 5.86 EPS for the current year.

In other news, CEO Mark Zuckerberg sold 247,147 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $171.96, for a total value of $42,499,398.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $171.59, for a total transaction of $128,692.50. Following the completion of the sale, the vice president now directly owns 94,841 shares of the company’s stock, valued at approximately $16,273,767.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,195,772 shares of company stock worth $924,706,968. 17.23% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in shares of Facebook by 283.6% during the 2nd 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. Truepoint Inc. grew its holdings in Facebook by 16,822.1% in the 3rd quarter. Truepoint Inc. now owns 6,137,138 shares of the social networking company’s stock valued at $6,137,000 after buying an additional 6,100,871 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Facebook by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after acquiring an additional 5,151,190 shares during the period. BlackRock Inc. lifted its position in shares of Facebook by 3.0% during the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after acquiring an additional 4,032,727 shares during the period. Finally, Harding Loevner LP lifted its position in shares of Facebook by 229.7% during the 3rd quarter. Harding Loevner LP now owns 4,258,885 shares of the social networking company’s stock valued at $215,130,000 after acquiring an additional 2,966,978 shares during the period. Hedge funds and other institutional investors own 58.17% of the company’s stock.

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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.

Analyst Recommendations for Facebook (NASDAQ:FB)

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