JMP Securities Cuts Facebook (FB) Price Target to $176.00

Facebook (NASDAQ:FB) had its target price trimmed by JMP Securities from $206.00 to $176.00 in a research note issued to investors on Wednesday morning, The Fly reports. The brokerage currently has an outperform rating on the social networking company’s stock.

Other equities research analysts have also recently issued reports about the company. SunTrust Banks reduced their price objective on Facebook to $200.00 and set a buy rating for the company in a research report on Thursday, July 26th. Wells Fargo & Co set a $220.00 price objective on Facebook and gave the company a buy rating in a research report on Monday, October 29th. Credit Suisse Group reissued a buy rating and issued a $210.00 price objective on shares of Facebook in a research report on Wednesday. Raymond James cut Facebook from a strong-buy rating to an outperform rating and set a $210.00 price objective for the company. in a research report on Thursday, July 26th. Finally, Bank of America reduced their price objective on Facebook from $205.00 to $190.00 and set a buy rating for the company in a research report on Wednesday, October 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $194.54.

Facebook stock traded down $1.40 during trading hours on Wednesday, reaching $150.35. 24,478,922 shares of the company were exchanged, compared to its average volume of 26,844,908. The stock has a market capitalization 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 12 month low of $139.03 and a 12 month high of $218.62.

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

In other Facebook news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $152.90, for a total transaction of $8,409,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP David B. Fischer sold 2,648 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $148.39, for a total value of $392,936.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,416,282 shares of company stock valued at $603,782,983. 17.23% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Cribstone Capital Management LLC increased its stake in shares of Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after buying an additional 406 shares in the last quarter. IMA Wealth Inc. acquired a new stake in Facebook in the second quarter worth about $122,000. Trust Department MB Financial Bank N A acquired a new stake in Facebook in the second quarter worth about $134,000. Aviance Capital Management LLC acquired a new stake in Facebook in the second quarter worth about $151,000. Finally, Arlington Partners LLC acquired a new stake in Facebook in the third quarter worth about $164,000. Hedge funds and other institutional investors own 60.30% of the company’s stock.

Facebook Company Profile

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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