According to Zacks, “Facebook's increasing revenues from mobile and video ads are its biggest growth drivers. We continue to believe that going forward growth will be driven by its huge user and advertisers’ base, higher engagement levels along with monetization opportunities presented by its subsidiaries Instagram, Oculus, Messenger and WhatsApp.While Messenger recently crossed the 1 billion user milestone, joining the likes of Facebook and WhatsApp, Instagram now has over 500 million MAUs. However, Facebook warned that revenue growth rates will now start to face tougher comparison. Ad load, which so far has been a leading factor driving revenue growth, will now start to “grow modestly” in the coming quarters and won’t be a big factor after mid-2017. Costs will continue to rise as the company ramps investments. “
FB has been the subject of several other reports. Vetr upgraded shares of Facebook from a hold rating to a buy rating and set a $136.45 target price for the company in a research report on Monday, September 12th. Societe Generale set a $80.00 price target on shares of Facebook and gave the stock a sell rating in a research report on Thursday, July 7th. Robert W. Baird upgraded shares of Facebook to a buy rating in a research report on Monday, July 18th. Citigroup Inc. upped their price target on shares of Facebook from $148.00 to $158.00 and gave the stock a buy rating in a research report on Monday, September 19th. Finally, Jefferies Group set a $170.00 price target on shares of Facebook and gave the stock a buy rating in a research report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, forty-four have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $149.79.
Facebook (NASDAQ:FB) opened at 128.09 on Tuesday. Facebook has a 52-week low of $88.37 and a 52-week high of $131.98. The stock’s 50 day moving average is $126.82 and its 200-day moving average is $118.96. The company has a market capitalization of $367.83 billion, a P/E ratio of 61.23 and a beta of 0.76.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.15. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The firm earned $6.44 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s quarterly revenue was up 59.2% on a year-over-year basis. Analysts predict that Facebook will post $3.94 EPS for the current fiscal year.
In related news, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $127.63, for a total value of $95,722.50. Following the completion of the transaction, the vice president now directly owns 85,190 shares of the company’s stock, valued at $10,872,799.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sheryl Sandberg sold 109,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $113.51, for a total value of $12,372,590.00. Following the completion of the transaction, the chief operating officer now directly owns 4,753,248 shares of the company’s stock, valued at $539,541,180.48. The disclosure for this sale can be found here. 19.08% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Stelac Advisory Services LLC purchased a new stake in Facebook during the first quarter valued at $106,000. Bartlett & Co. LLC increased its stake in Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock valued at $128,000 after buying an additional 91 shares during the last quarter. Kings Point Capital Management increased its stake in Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock valued at $136,000 after buying an additional 200 shares during the last quarter. Balentine LLC increased its stake in Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock valued at $139,000 after buying an additional 1,015 shares during the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock valued at $140,000 after buying an additional 18 shares during the last quarter. 56.61% of the stock is owned by hedge funds and other institutional investors.
Facebook Company Profile
Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
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