Facebook, Inc. (NASDAQ:FB) has been assigned a $215.00 price objective by research analysts at Wells Fargo & Company in a research note issued on Friday. The brokerage currently has a “buy” rating on the social networking company’s stock. Wells Fargo & Company’s price objective would suggest a potential upside of 24.86% from the stock’s previous close.
A number of other analysts have also recently commented on FB. Piper Jaffray Companies reiterated an “overweight” rating and issued a $165.00 price target on shares of Facebook in a research note on Friday, June 9th. Vetr cut shares of Facebook from a “buy” rating to a “hold” rating and set a $159.91 price target for the company. in a research note on Monday, June 12th. Moffett Nathanson reiterated a “buy” rating on shares of Facebook in a research note on Friday, June 9th. Deutsche Bank AG reiterated a “buy” rating and issued a $185.00 price target on shares of Facebook in a research note on Monday, June 12th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $175.00 price target on shares of Facebook in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have given a strong buy rating to the stock. Facebook has a consensus rating of “Buy” and a consensus price target of $185.38.
Shares of Facebook (FB) opened at 172.23 on Friday. The firm has a market cap of $500.19 billion, a price-to-earnings ratio of 38.55 and a beta of 0.70. Facebook has a 1-year low of $113.55 and a 1-year high of $175.49. The company has a 50 day moving average of $169.94 and a 200 day moving average of $157.13.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. The firm had revenue of $9.32 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The company’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 earnings per share. On average, equities analysts forecast that Facebook will post $5.34 earnings per share for the current fiscal year.
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In other Facebook news, Director Jan Koum sold 3,600,000 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total transaction of $576,216,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $153.36, for a total transaction of $115,020.00. Following the sale, the vice president now directly owns 85,406 shares in the company, valued at $13,097,864.16. The disclosure for this sale can be found here. Insiders sold a total of 12,900,933 shares of company stock worth $2,118,781,506 over the last three months. 19.08% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FB. Trust Department MB Financial Bank N A lifted its holdings in shares of Facebook by 61.2% in the first quarter. Trust Department MB Financial Bank N A now owns 1,346 shares of the social networking company’s stock worth $191,000 after buying an additional 511 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in shares of Facebook in the first quarter worth about $203,000. Alta Capital Management LLC lifted its holdings in shares of Facebook by 3.3% in the first quarter. Alta Capital Management LLC now owns 114,358 shares of the social networking company’s stock worth $16,244,000 after buying an additional 3,691 shares in the last quarter. Hartford Financial Management Inc. lifted its holdings in shares of Facebook by 1,059.1% in the first quarter. Hartford Financial Management Inc. now owns 1,472 shares of the social networking company’s stock worth $209,000 after buying an additional 1,345 shares in the last quarter. Finally, Hartford Investment Management Co. lifted its holdings in shares of Facebook by 0.9% in the first quarter. Hartford Investment Management Co. now owns 604,051 shares of the social networking company’s stock worth $85,805,000 after buying an additional 5,560 shares in the last quarter. 57.26% of the stock is currently owned by institutional investors and hedge funds.
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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