Facebook Inc (NASDAQ:FB) has been assigned a $170.00 target price by investment analysts at Oppenheimer Holdings Inc. in a research report issued on Thursday, May 4th. The brokerage presently has a “buy” rating on the social networking company’s stock. Oppenheimer Holdings Inc.’s price objective suggests a potential upside of 15.13% from the stock’s current price.
Other equities analysts have also issued reports about the company. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $140.41 target price for the company in a report on Thursday, February 16th. Credit Suisse Group AG upped their target price on Facebook from $165.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, February 2nd. Aegis reaffirmed a “buy” rating on shares of Facebook in a report on Sunday, April 2nd. Piper Jaffray Companies set a $150.00 price objective on Facebook and gave the stock a “buy” rating in a report on Thursday, January 5th. Finally, Goldman Sachs Group Inc reissued a “buy” rating and issued a $162.00 price objective on shares of Facebook in a report on Thursday, February 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-two have assigned a buy rating and three have given a strong buy rating to the company. Facebook has a consensus rating of “Buy” and a consensus target price of $163.98.
Shares of Facebook (NASDAQ:FB) traded up 0.714% during midday trading on Thursday, hitting $148.715. The stock had a trading volume of 582,405 shares. The stock has a market cap of $431.00 billion, a PE ratio of 37.812 and a beta of 0.68. The firm has a 50 day moving average price of $145.82 and a 200 day moving average price of $132.24. Facebook has a one year low of $108.23 and a one year high of $153.60. Facebook also was the recipient of some unusual options trading on Wednesday. Investors purchased 129,160 put options on the stock. This represents an increase of approximately 153% compared to the typical daily volume of 51,102 put options.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.16. Facebook had a return on equity of 19.05% and a net margin of 34.33%. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.83 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Facebook’s revenue for the quarter was up 49.2% compared to the same quarter last year. On average, equities analysts forecast that Facebook will post $4.83 earnings per share for the current fiscal year.
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In other Facebook news, Director Jan Koum sold 3,200,000 shares of the business’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $150.27, for a total transaction of $480,864,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 386,116 shares of the business’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $135.97, for a total transaction of $52,500,192.52. The disclosure for this sale can be found here. Insiders sold a total of 9,836,427 shares of company stock worth $1,417,668,940 over the last ninety days. 19.08% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Facebook by 2,611.9% in the first quarter. BlackRock Inc. now owns 134,844,586 shares of the social networking company’s stock valued at $19,154,672,000 after buying an additional 129,872,250 shares in the last quarter. Norges Bank purchased a new position in Facebook during the fourth quarter valued at $2,046,500,000. Vanguard Group Inc. raised its position in shares of Facebook by 4.1% in the first quarter. Vanguard Group Inc. now owns 157,379,570 shares of the social networking company’s stock worth $22,355,767,000 after buying an additional 6,160,804 shares during the period. Asset Management One Co. Ltd. raised its position in shares of Facebook by 997.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 4,018,514 shares of the social networking company’s stock worth $462,727,000 after buying an additional 3,652,302 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Facebook during the fourth quarter worth approximately $328,688,000. Institutional investors own 57.00% of the company’s stock.
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.
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