Canaccord Genuity reissued their buy rating on shares of Facebook Inc. (NASDAQ:FB) in a research report report published on Tuesday. They currently have a $160.00 price objective on the social networking company’s stock.
FB has been the topic of a number of other research reports. Vetr raised shares of Facebook from a hold rating to a buy rating and set a $121.02 price target on the stock in a report on Monday, June 13th. Royal Bank Of Canada reissued a buy rating and issued a $165.00 price target on shares of Facebook in a report on Tuesday, June 21st. SunTrust Banks Inc. reissued a buy rating and issued a $135.00 price target on shares of Facebook in a report on Tuesday, June 21st. Robert W. Baird reissued an outperform rating and issued a $135.00 price target on shares of Facebook in a report on Wednesday, June 22nd. Finally, MKM Partners reissued a buy rating and issued a $150.00 price target on shares of Facebook in a report on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, forty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $149.99.
Facebook (NASDAQ:FB) traded down 0.073% during trading on Tuesday, reaching $128.646. 4,373,526 shares of the company traded hands. The firm’s 50 day moving average price is $127.42 and its 200 day moving average price is $119.59. Facebook has a 12-month low of $89.37 and a 12-month high of $131.98. The firm has a market capitalization of $369.43 billion, a price-to-earnings ratio of 61.494 and a beta of 0.77.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same period in the prior year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 59.2% compared to the same quarter last year. Equities research analysts expect that Facebook will post $3.94 earnings per share for the current year.
In other Facebook news, Director Jan Koum sold 1,721,436 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $118.13, for a total transaction of $203,353,234.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP David B. Fischer sold 35,000 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $130.32, for a total transaction of $4,561,200.00. Following the transaction, the vice president now owns 204,686 shares in the company, valued at approximately $26,674,679.52. The disclosure for this sale can be found here. 19.08% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FB. PacWest Financial Management Inc purchased a new position in Facebook during the first quarter worth $801,000. Douglas Lane & Associates LLC purchased a new position in Facebook during the first quarter worth $16,297,000. First Manhattan Co. boosted its position in Facebook by 28.8% in the first quarter. First Manhattan Co. now owns 27,527 shares of the social networking company’s stock worth $3,140,000 after buying an additional 6,148 shares during the period. Quantitative Systematic Strategies LLC boosted its position in Facebook by 112.7% in the first quarter. Quantitative Systematic Strategies LLC now owns 7,094 shares of the social networking company’s stock worth $814,000 after buying an additional 3,759 shares during the period. Finally, Forte Capital LLC ADV purchased a new position in Facebook during the first quarter worth $263,000. Institutional investors and hedge funds own 56.61% of the company’s stock.
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.
Receive News & Ratings for Facebook Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Facebook Inc. and related companies with MarketBeat.com's FREE daily email newsletter.