Facebook (FB) Price Target Cut to $170.00

Facebook (NASDAQ:FB) had its price target cut by Morgan Stanley from $175.00 to $170.00 in a report released on Wednesday. They currently have an overweight rating on the social networking company’s stock.

A number of other research firms have also issued reports on FB. Citigroup lowered Facebook to a buy rating and dropped their price target for the company from $220.00 to $210.00 in a research report on Thursday, July 26th. They noted that the move was a valuation call. Credit Suisse Group set a $265.00 price target on Facebook and gave the company a buy rating in a research report on Monday, July 16th. Goldman Sachs Group restated a buy rating and issued a $225.00 price target on shares of Facebook in a research report on Monday, July 23rd. Aegis upped their price target on Facebook from $206.00 to $215.00 and gave the company a buy rating in a research report on Wednesday. Finally, BidaskClub upgraded Facebook from a hold rating to a buy rating in a research report on Tuesday, July 17th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $194.54.

NASDAQ:FB traded down $1.40 during trading hours on Wednesday, hitting $150.35. 24,478,922 shares of the stock were exchanged, compared to its average volume of 26,839,968. Facebook has a 52-week low of $139.03 and a 52-week high of $218.62. The firm has a market cap of $436.77 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 0.92 and a beta of 0.55.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. The business had revenue of $13.73 billion during 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 business’s revenue was up 32.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share. Analysts anticipate that Facebook will post 7.3 earnings per share for the current year.

In other Facebook news, CFO David M. Wehner sold 9,522 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $180.20, for a total transaction of $1,715,864.40. Following the transaction, the chief financial officer now directly owns 77,302 shares in the company, valued at $13,929,820.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 218,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $183.07, for a total value of $39,909,260.00. The disclosure for this sale can be found here. Insiders sold 3,416,282 shares of company stock valued at $603,782,983 over the last quarter. 17.23% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in FB. Cribstone Capital Management LLC raised 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 acquiring an additional 406 shares in the last quarter. IMA Wealth Inc. acquired a new stake in shares of Facebook in the second quarter valued at $122,000. Trust Department MB Financial Bank N A acquired a new stake in shares of Facebook in the second quarter valued at $134,000. Aviance Capital Management LLC acquired a new stake in shares of Facebook in the second quarter valued at $151,000. Finally, Arlington Partners LLC acquired a new stake in shares of Facebook in the third quarter valued at $164,000. 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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Analyst Recommendations for Facebook (NASDAQ:FB)

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