Facebook (FB) Downgraded by Vetr to Buy

Facebook (NASDAQ:FB) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. They currently have a $208.60 price target on the social networking company’s stock. Vetr‘s price target suggests a potential upside of 10.17% from the stock’s current price.

Several other analysts have also recently issued reports on FB. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $191.00 price target on the stock in a report on Tuesday, September 26th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $215.00 price target (up from $185.00) on shares of Facebook in a report on Wednesday, September 27th. Cowen reaffirmed an “average” rating and issued a $200.00 price target (up from $195.00) on shares of Facebook in a report on Wednesday, September 27th. Citigroup reaffirmed a “buy” rating and issued a $200.00 price target on shares of Facebook in a report on Wednesday, September 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $190.00 price target on shares of Facebook in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have issued a buy rating and two have given a strong buy rating to the stock. Facebook has an average rating of “Buy” and an average price target of $202.82.

Facebook (NASDAQ:FB) traded up $3.98 during midday trading on Tuesday, hitting $189.35. 25,533,728 shares of the stock were exchanged, compared to its average volume of 18,600,000. Facebook has a twelve month low of $126.95 and a twelve month high of $189.55. The firm has a market capitalization of $550,210.00, a PE ratio of 35.20, a P/E/G ratio of 1.03 and a beta of 0.68.

Facebook (NASDAQ:FB) last posted its earnings results 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. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. During the same period in the previous year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. sell-side analysts expect that Facebook will post 5.86 earnings per share for the current year.

In other news, VP David B. Fischer sold 4,699 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $171.53, for a total transaction of $806,019.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Todd Schroepfer sold 38,017 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $187.83, for a total transaction of $7,140,733.11. Following the transaction, the insider now owns 381,521 shares of the company’s stock, valued at approximately $71,661,089.43. The disclosure for this sale can be found here. Insiders have sold 4,164,699 shares of company stock valued at $749,660,440 in the last 90 days. Insiders own 17.23% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Facebook during the fourth quarter valued at about $2,046,500,000. Janus Henderson Group PLC lifted its stake in Facebook by 283.6% during the second quarter. Janus Henderson Group PLC now owns 11,888,149 shares of the social networking company’s stock valued at $1,794,857,000 after buying an additional 8,788,743 shares in the last quarter. Truepoint Inc. lifted its stake in Facebook by 16,822.1% during the third 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 stake in Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after buying an additional 5,151,190 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after buying an additional 4,032,727 shares in the last quarter. Hedge funds and other institutional investors own 57.76% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Facebook (NASDAQ:FB)

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