Facebook PT Raised to $34.00 (FB)

Analysts at Evercore Partners raised their target price on shares of Facebook (NASDAQ:FB) from $11.00 to $34.00 in a research report issued to clients and investors on Monday, StockRatingsNetwork.com reports. The firm currently has an “overweight” rating on the stock. Evercore Partners’ price target indicates a potential downside of 10.08% from the company’s current price.

Several other analysts have also recently commented on the stock. Analysts at Topeka Capital Markets reiterated a “buy” rating on shares of Facebook in a research note to investors on Friday. They now have a $47.00 price target on the stock, up previously from $40.00. Separately, analysts at Raymond James reiterated a “positive” rating on shares of Facebook in a research note to investors on Friday. Finally, analysts at UBS AG raised their price target on shares of Facebook from $36.00 to $45.00 in a research note to investors on Friday, August 9th. They now have a “buy” rating on the stock.

Eleven equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.69.

Shares of Facebook (NASDAQ:FB) traded up 1.97% on Monday, hitting $37.81. 57,522,556 shares of the company’s stock traded hands. Facebook has a 52-week low of $17.55 and a 52-week high of $39.32. The stock has a 50-day moving average of $31.24 and a 200-day moving average of $27.64. The company has a market cap of $92.079 billion and a price-to-earnings ratio of 167.78.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 53.1% on a year-over-year basis. On average, analysts predict that Facebook will post $0.71 earnings per share for the current fiscal year.

In other Facebook news, CFO David Ebersman sold 23,400 shares of the company’s stock on the open market in a transaction dated Thursday, August 15th. The stock was sold at an average price of $36.60, for a total value of $856,440.00. Following the completion of the sale, the chief financial officer now directly owns 78,468 shares of the company’s stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Facebook, Inc (NASDAQ:FB), is engaged in building products to create utility for users, developers, and advertisers.

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