Facebook’s (FB) “Buy” Rating Reaffirmed at Cowen

Cowen reiterated their buy rating on shares of Facebook (NASDAQ:FB) in a report issued on Thursday. The firm currently has a $220.00 price objective on the social networking company’s stock.

A number of other analysts have also weighed in on the stock. Goldman Sachs Group set a $205.00 price objective on shares of Facebook and gave the stock a buy rating in a research note on Friday, October 20th. Morgan Stanley set a $200.00 price target on shares of Facebook and gave the stock a buy rating in a report on Thursday, November 2nd. Needham & Company LLC increased their price target on shares of Facebook from $185.00 to $215.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Wedbush set a $225.00 price target on shares of Facebook and gave the stock a buy rating in a report on Monday, October 30th. Finally, Canaccord Genuity increased their price target on shares of Facebook from $190.00 to $200.00 and gave the stock a buy rating in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, forty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Facebook has an average rating of Buy and a consensus price target of $201.84.

Shares of Facebook (NASDAQ FB) traded up $1.62 during trading on Thursday, reaching $185.95. 8,748,522 shares of the company’s stock were exchanged, compared to its average volume of 16,480,000. Facebook has a twelve month low of $118.32 and a twelve month high of $186.21. The firm has a market cap of $540,220.00, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68.

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

In related news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $176.23, for a total transaction of $132,172.50. Following the completion of the sale, the vice president now directly owns 82,096 shares in the company, valued at $14,467,778.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $172.89, for a total transaction of $2,766,240.00. The disclosure for this sale can be found here. Insiders sold 4,568,712 shares of company stock valued at $818,756,804 over the last quarter. Company insiders own 17.23% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in FB. AE Wealth Management LLC increased its position in shares of Facebook by 101.8% during the first quarter. AE Wealth Management LLC now owns 10,821 shares of the social networking company’s stock valued at $1,537,000 after acquiring an additional 5,460 shares during the last quarter. Sphera Funds Management LTD. boosted its stake in shares of Facebook by 38.5% in the first quarter. Sphera Funds Management LTD. now owns 18,092 shares of the social networking company’s stock valued at $2,570,000 after purchasing an additional 5,030 shares during the period. Investec Asset Management PTY Ltd purchased a new position in shares of Facebook in the first quarter valued at approximately $524,000. Segantii Capital Management Ltd purchased a new position in shares of Facebook in the first quarter valued at approximately $2,841,000. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Facebook by 60.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,868 shares of the social networking company’s stock valued at $407,000 after purchasing an additional 1,083 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.

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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.

Analyst Recommendations for Facebook (NASDAQ:FB)

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