Vetr Downgrades Facebook (FB) to Buy

Vetr downgraded shares of Facebook (NASDAQ:FB) from a strong-buy rating to a buy rating in a report issued on Thursday morning. Vetr currently has $210.22 target price on the social networking company’s stock.

Several other analysts also recently commented 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 report on Friday, October 20th. Morgan Stanley set a $200.00 price objective on shares of Facebook and gave the stock a buy rating in a research report on Thursday, November 2nd. Needham & Company LLC raised their price objective on shares of Facebook from $185.00 to $215.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Wedbush set a $225.00 price objective on shares of Facebook and gave the stock a buy rating in a research report on Monday, October 30th. Finally, Canaccord Genuity raised their price objective on shares of Facebook from $190.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $203.72.

Facebook (FB) traded down $8.40 during trading on Thursday, reaching $179.37. 77,414,971 shares of the company’s stock traded hands, compared to its average volume of 17,770,000. Facebook has a 52-week low of $126.78 and a 52-week high of $188.90. The company has a market cap of $521,210.00, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68.

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

In other Facebook news, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $172.43, for a total transaction of $129,322.50. Following the transaction, the vice president now directly owns 89,916 shares of the company’s stock, valued at approximately $15,504,215.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Todd Schroepfer sold 38,017 shares of Facebook stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $187.83, for a total transaction of $7,140,733.11. Following the transaction, the insider now directly owns 381,521 shares in the company, valued at $71,661,089.43. The disclosure for this sale can be found here. Insiders have sold a total of 4,182,199 shares of company stock worth $752,724,430 over the last ninety days. Insiders own 17.23% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hartford Financial Management Inc. raised its stake in Facebook by 1.1% in the 2nd quarter. Hartford Financial Management Inc. now owns 1,488 shares of the social networking company’s stock valued at $224,000 after acquiring an additional 16 shares during the period. Regal Investment Advisors LLC raised its stake in Facebook by 0.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock valued at $876,000 after acquiring an additional 18 shares during the period. Halbert Hargrove Russell LLC raised its stake in Facebook by 0.5% in the 2nd quarter. Halbert Hargrove Russell LLC now owns 3,485 shares of the social networking company’s stock valued at $526,000 after acquiring an additional 19 shares during the period. Dumont & Blake Investment Advisors LLC raised its stake in Facebook by 2.1% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 1,470 shares of the social networking company’s stock valued at $222,000 after acquiring an additional 30 shares during the period. Finally, Aspen Investment Management Inc raised its stake in Facebook by 0.4% in the 2nd quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock valued at $1,044,000 after acquiring an additional 30 shares during the period. Institutional investors own 57.75% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Facebook (NASDAQ:FB)

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