Goldman Sachs Group Reaffirms Buy Rating for Facebook (FB)

Goldman Sachs Group restated their buy rating on shares of Facebook (NASDAQ:FB) in a research note issued to investors on Wednesday. Goldman Sachs Group currently has a $195.00 price objective on the social networking company’s stock.

FB has been the topic of several other research reports. SunTrust Banks cut their price target on Facebook to $200.00 and set a buy rating on the stock in a report on Thursday, July 26th. Wells Fargo & Co set a $220.00 price target on Facebook and gave the stock a buy rating in a report on Monday, October 29th. Raymond James lowered Facebook from a strong-buy rating to an outperform rating and set a $210.00 price target on the stock. in a report on Thursday, July 26th. Bank of America cut their price target on Facebook from $205.00 to $190.00 and set a buy rating on the stock in a report on Wednesday, October 24th. Finally, Cleveland Research reiterated a buy rating on shares of Facebook in a report on Thursday, September 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $194.54.

NASDAQ:FB traded down $1.40 on Wednesday, hitting $150.35. The stock had a trading volume of 24,478,922 shares, compared to its average volume of 26,844,908. The firm has a market cap of $440.95 billion, a P/E ratio of 20.54, a PEG ratio of 0.95 and a beta of 0.55. Facebook has a 52 week low of $139.03 and a 52 week high of $218.62.

Facebook (NASDAQ:FB) last announced its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.30. The business had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.59 earnings per share. On average, equities research analysts expect that Facebook will post 7.3 earnings per share for the current year.

In related news, VP David B. Fischer sold 2,648 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $148.39, for a total transaction of $392,936.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher K. Cox sold 10,600 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $180.98, for a total value of $1,918,388.00. Following the sale, the insider now directly owns 99,573 shares of the company’s stock, valued at $18,020,721.54. The disclosure for this sale can be found here. Insiders have sold 3,416,282 shares of company stock valued at $603,782,983 over the last ninety days. 17.23% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of FB. Cribstone Capital Management LLC increased its position in Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after buying an additional 406 shares during the last quarter. IMA Wealth Inc. purchased a new stake in Facebook in the second quarter worth $122,000. Trust Department MB Financial Bank N A purchased a new stake in Facebook in the second quarter worth $134,000. Aviance Capital Management LLC purchased a new stake in Facebook in the second quarter worth $151,000. Finally, Arlington Partners LLC purchased a new stake in Facebook in the third quarter worth $164,000. 60.30% of the stock is owned by institutional investors.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.

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Analyst Recommendations for Facebook (NASDAQ:FB)

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