Facebook, Inc. Common Stock (NASDAQ:FB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, July 17th. The brokerage presently has a $232.00 target price on the social networking company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 25.28% from the company’s previous close.
According to Zacks, “Facebook is benefiting from robust growth in advertising and user base. Facebook’s user base of 2.2 billion coupled with Instagram’s 1 billion users provides a huge canvas for advertisers, which, in turn, is driving the top line of the company. Rising mobile conversions on the platform is boosting mobile ad growth. Growing popularity of Stories across all its major platforms, with Instagram taking center stage, is a tailwind. Apart from mobile and video, the monetization opportunities of Messenger, WhatsApp and Oculus and a huge user base are expected to drive growth going ahead. Facebook has a strong balance sheet and generates significant cash flow, which makes it an attractive stock for investors. Shares outperformed the industry on a year-to-date basis. However, the company can be affected by stiff competition from peers and tightening privacy standards which seem to be growing concerns.”
Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of Facebook, Inc. Common Stock from a “sell” rating to a “hold” rating in a report on Thursday, April 12th. ValuEngine downgraded shares of Facebook, Inc. Common Stock from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Raymond James lifted their price target on shares of Facebook, Inc. Common Stock from $230.00 to $240.00 and gave the company a “strong-buy” rating in a report on Thursday, April 26th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $250.00 target price (up from $230.00) on shares of Facebook, Inc. Common Stock in a research note on Monday, July 2nd. Finally, JPMorgan Chase & Co. set a $242.00 target price on shares of Facebook, Inc. Common Stock and gave the stock a “buy” rating in a research note on Thursday, April 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Facebook, Inc. Common Stock presently has a consensus rating of “Buy” and a consensus price target of $209.46.
Facebook, Inc. Common Stock (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, July 25th. The social networking company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.01). Facebook, Inc. Common Stock had a return on equity of 28.16% and a net margin of 39.31%. The company had revenue of $13.23 billion during the quarter, compared to analyst estimates of $13.35 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. The business’s revenue for the quarter was up 41.9% on a year-over-year basis. sell-side analysts predict that Facebook, Inc. Common Stock will post 7.08 earnings per share for the current fiscal year.
In other Facebook, Inc. Common Stock news, COO Sheryl Sandberg sold 55,000 shares of the company’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $186.98, for a total transaction of $10,283,900.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 440,000 shares of the stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $185.58, for a total transaction of $81,655,200.00. The disclosure for this sale can be found here. Insiders have sold 15,432,698 shares of company stock worth $2,978,533,529 over the last ninety days. Insiders own 16.25% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of FB. Summit Trail Advisors LLC raised its position in shares of Facebook, Inc. Common Stock by 4,170.3% in the first quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock valued at $9,071,000 after purchasing an additional 8,858,520 shares during the period. BlackRock Inc. raised its position in shares of Facebook, Inc. Common Stock by 3.6% in the fourth quarter. BlackRock Inc. now owns 146,170,789 shares of the social networking company’s stock valued at $25,793,297,000 after purchasing an additional 5,107,163 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Facebook, Inc. Common Stock by 21,254.2% in the second quarter. Cornerstone Wealth Management LLC now owns 3,612,283 shares of the social networking company’s stock valued at $18,303,000 after purchasing an additional 3,595,367 shares during the period. SG Americas Securities LLC raised its position in shares of Facebook, Inc. Common Stock by 1,559.1% in the first quarter. SG Americas Securities LLC now owns 2,990,310 shares of the social networking company’s stock valued at $477,822,000 after purchasing an additional 2,810,076 shares during the period. Finally, Suvretta Capital Management LLC bought a new position in shares of Facebook, Inc. Common Stock in the first quarter valued at about $430,727,000. 59.46% of the stock is currently owned by institutional investors.
About Facebook, Inc. Common Stock
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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