Wells Fargo & Company Reiterates “Buy” Rating for Facebook (FB)

Facebook (NASDAQ:FB)‘s stock had its “buy” rating reaffirmed by equities researchers at Wells Fargo & Company in a report issued on Tuesday. They presently have a $215.00 price objective on the social networking company’s stock. Wells Fargo & Company’s target price points to a potential upside of 22.12% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Evercore ISI began coverage on Facebook in a research note on Tuesday. They issued an “outperform” rating and a $225.00 target price on the stock. MKM Partners raised their price target on Facebook to $240.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Vetr raised Facebook from a “buy” rating to a “strong-buy” rating and set a $197.10 price target for the company in a report on Wednesday, November 29th. Zacks Investment Research raised Facebook from a “hold” rating to a “buy” rating and set a $202.00 price target for the company in a report on Tuesday, November 7th. Finally, SunTrust Banks reissued a “buy” rating and issued a $215.00 price target on shares of Facebook in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating, forty-two have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Facebook has a consensus rating of “Buy” and an average price target of $200.70.

Facebook (NASDAQ FB) opened at $176.06 on Tuesday. Facebook has a 52 week low of $114.77 and a 52 week high of $184.25. The stock has a market capitalization of $509,100.00, a PE ratio of 33.04, a price-to-earnings-growth ratio of 1.09 and a beta of 0.69.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $9.84 billion. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 47.3% compared to the same quarter last year. analysts expect that Facebook will post 5.86 earnings per share for the current fiscal year.

In other news, Director Jan Koum sold 2,600,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $180.09, for a total value of $468,234,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 232,138 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $183.08, for a total value of $42,499,825.04. The disclosure for this sale can be found here. Insiders sold 5,179,022 shares of company stock valued at $921,840,196 over the last 90 days. Company insiders own 17.23% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Facebook by 3.3% during the second quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after purchasing an additional 5,151,190 shares in the last quarter. BlackRock Inc. increased its position in shares of Facebook by 3.0% during the second quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after purchasing an additional 4,032,727 shares in the last quarter. State Street Corp increased its position in shares of Facebook by 1.7% during the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after purchasing an additional 1,536,158 shares in the last quarter. Capital World Investors increased its position in shares of Facebook by 1.5% during the second quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock worth $8,578,347,000 after purchasing an additional 833,810 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Facebook by 0.4% during the second quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after purchasing an additional 114,694 shares in the last quarter. Hedge funds and other institutional investors own 57.86% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.chaffeybreeze.com/2017/12/07/wells-fargo-company-reiterates-buy-rating-for-facebook-fb.html.

About Facebook

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.

Analyst Recommendations for Facebook (NASDAQ:FB)

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.

Latest News

Leave a Reply