Facebook (NASDAQ:FB) received a $215.00 target price from equities researchers at Morgan Stanley in a research note issued on Friday. The firm currently has a “buy” rating on the social networking company’s stock. Morgan Stanley’s target price would suggest a potential upside of 19.86% from the stock’s previous close.
FB has been the subject of a number of other research reports. Vetr downgraded shares of Facebook from a “strong-buy” rating to a “buy” rating and set a $210.22 price objective for the company. in a report on Thursday. UBS Group set a $215.00 price objective on shares of Facebook and gave the stock a “buy” rating in a report on Thursday. BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Pivotal Research reaffirmed a “sell” rating and issued a $147.00 price objective on shares of Facebook in a report on Monday. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $230.00 price objective (up previously from $215.00) on shares of Facebook in a report on Monday. Two 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 issued a strong buy rating to the company. Facebook currently has an average rating of “Buy” and an average target price of $203.72.
Shares of Facebook (NASDAQ:FB) traded down $8.40 during trading hours on Friday, hitting $179.37. 77,306,900 shares of the company were exchanged, compared to its average volume of 16,580,000. The company has a market capitalization of $521,210.00, a price-to-earnings ratio of 33.34, a PEG ratio of 1.06 and a beta of 0.68. Facebook has a fifty-two week low of $124.80 and a fifty-two week high of $188.90.
In other Facebook news, CEO Mark Zuckerberg sold 238,715 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $178.03, for a total value of $42,498,431.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jan Koum sold 2,600,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $180.09, for a total transaction of $468,234,000.00. The disclosure for this sale can be found here. Insiders sold 4,182,199 shares of company stock valued at $752,724,430 in the last ninety days. Corporate insiders own 17.23% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Palisade Capital Management LLC NJ raised its position in Facebook by 2.4% in the second quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock worth $3,904,000 after acquiring an additional 602 shares in the last quarter. ING Groep NV raised its holdings in Facebook by 6.9% during the 2nd quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock worth $89,041,000 after buying an additional 37,822 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Facebook by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,476,119 shares of the social networking company’s stock worth $1,128,745,000 after buying an additional 349,182 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Facebook by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,610 shares of the social networking company’s stock worth $26,514,000 after buying an additional 907 shares during the period. Finally, Birinyi Associates Inc. raised its holdings in Facebook by 11.7% during the 2nd quarter. Birinyi Associates Inc. now owns 30,500 shares of the social networking company’s stock worth $4,605,000 after buying an additional 3,200 shares during the period. Hedge funds and other institutional investors own 57.73% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Morgan Stanley Analysts Give Facebook (FB) a $215.00 Price Target” was published by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2018/01/12/morgan-stanley-analysts-give-facebook-fb-a-215-00-price-target.html.
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.
