Facebook (FB) PT Raised to $240.00

Facebook (NASDAQ:FB) had its price target upped by stock analysts at Canaccord Genuity from $230.00 to $240.00 in a research report issued on Thursday. The brokerage currently has a “buy” rating on the social networking company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 24.77% from the company’s current price.

Other research analysts also recently issued reports about the company. Pivotal Research reiterated a “sell” rating and set a $147.00 price objective on shares of Facebook in a research note on Monday. Deutsche Bank set a $225.00 price objective on Facebook and gave the company a “buy” rating in a research note on Monday. Vetr downgraded Facebook from a “strong-buy” rating to a “buy” rating and set a $208.60 price objective for the company. in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. set a $230.00 price objective on Facebook and gave the company a “buy” rating in a research note on Monday, January 8th. Finally, Credit Suisse Group upped their price target on Facebook from $230.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and one has given a strong buy rating to the company. Facebook has a consensus rating of “Buy” and a consensus price target of $206.87.

Facebook (FB) traded up $5.46 during trading on Thursday, hitting $192.35. The company’s stock had a trading volume of 18,666,795 shares, compared to its average volume of 20,020,000. The company has a market cap of $553,990.00, a P/E ratio of 35.62, a P/E/G ratio of 1.06 and a beta of 0.68. Facebook has a 1-year low of $130.30 and a 1-year high of $192.00.

Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.95 by $0.26. The business had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.55 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 EPS. sell-side analysts expect that Facebook will post 5.9 earnings per share for the current fiscal year.

In other news, CEO Mark Zuckerberg sold 238,715 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $178.03, for a total transaction of $42,498,431.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter Thiel sold 160,805 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $178.90, for a total value of $28,768,014.50. Following the transaction, the director now directly owns 6,311 shares in the company, valued at approximately $1,129,037.90. The disclosure for this sale can be found here. Insiders have sold a total of 1,564,837 shares of company stock worth $281,533,757 in the last 90 days. 17.23% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Palisade Capital Management LLC NJ boosted its position in Facebook by 2.4% during the second quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock valued at $3,904,000 after purchasing an additional 602 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Facebook by 4.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock valued at $1,128,745,000 after purchasing an additional 349,182 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Facebook by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,610 shares of the social networking company’s stock valued at $26,514,000 after purchasing an additional 907 shares in the last quarter. Xact Kapitalforvaltning AB boosted its position in Facebook by 2.9% during the third quarter. Xact Kapitalforvaltning AB now owns 424,191 shares of the social networking company’s stock valued at $72,482,000 after purchasing an additional 11,940 shares in the last quarter. Finally, Birinyi Associates Inc. boosted its position in Facebook by 11.7% during the second quarter. Birinyi Associates Inc. now owns 30,500 shares of the social networking company’s stock valued at $4,605,000 after purchasing an additional 3,200 shares in the last quarter. 57.81% of the stock is currently owned by institutional investors and hedge funds.

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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.