Facebook (NASDAQ:FB) Now Covered by Analysts at Piper Jaffray Companies

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Research analysts at Piper Jaffray Companies started coverage on shares of Facebook (NASDAQ:FB) in a research note issued on Tuesday, The Fly reports. The brokerage set an “overweight” rating on the social networking company’s stock.

FB has been the subject of several other research reports. Deutsche Bank boosted their target price on shares of Facebook from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Summit Redstone initiated coverage on shares of Facebook in a research note on Friday, September 27th. They set a “buy” rating on the stock. Goldman Sachs Group set a $231.00 price target on shares of Facebook and gave the stock a “buy” rating in a report on Wednesday, October 30th. SunTrust Banks boosted their price objective on shares of Facebook from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. They noted that the move was a valuation call. Finally, Nomura upped their price objective on shares of Facebook from $235.00 to $253.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $228.33.

Facebook stock opened at $199.70 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.66 and a current ratio of 4.66. The stock has a fifty day moving average of $192.91 and a two-hundred day moving average of $188.25. The company has a market capitalization of $575.03 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.13 and a beta of 1.05. Facebook has a fifty-two week low of $123.02 and a fifty-two week high of $208.66.

Facebook (NASDAQ:FB) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $2.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.21. The business had revenue of $17.65 billion for the quarter, compared to the consensus estimate of $17.35 billion. Facebook had a return on equity of 20.39% and a net margin of 27.08%. The business’s revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 earnings per share. On average, analysts forecast that Facebook will post 8.61 EPS for the current fiscal year.

In related news, CFO David M. Wehner sold 11,292 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $198.28, for a total transaction of $2,238,977.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Newstead sold 260 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $197.40, for a total transaction of $51,324.00. Following the sale, the vice president now directly owns 6,717 shares of the company’s stock, valued at approximately $1,325,935.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,667,128 shares of company stock worth $682,335,376. Company insiders own 14.53% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Cavalier Investments LLC increased its position in shares of Facebook by 99.9% during the third quarter. Cavalier Investments LLC now owns 1,925 shares of the social networking company’s stock worth $343,000 after acquiring an additional 962 shares during the last quarter. Martin Investment Management LLC grew its stake in Facebook by 5.2% during the 3rd quarter. Martin Investment Management LLC now owns 66,928 shares of the social networking company’s stock valued at $11,919,000 after purchasing an additional 3,294 shares in the last quarter. Green Square Asset Management LLC increased its holdings in Facebook by 288.0% during the 2nd quarter. Green Square Asset Management LLC now owns 14,187 shares of the social networking company’s stock worth $2,738,000 after purchasing an additional 10,531 shares during the last quarter. Fiduciary Financial Services of The Southwest Inc. TX increased its holdings in Facebook by 1.7% during the 2nd quarter. Fiduciary Financial Services of The Southwest Inc. TX now owns 12,236 shares of the social networking company’s stock worth $2,362,000 after purchasing an additional 206 shares during the last quarter. Finally, Fayez Sarofim & Co raised its position in shares of Facebook by 1.0% in the 2nd quarter. Fayez Sarofim & Co now owns 3,190,182 shares of the social networking company’s stock valued at $615,707,000 after purchasing an additional 32,734 shares in the last quarter. 63.81% of the stock is currently owned by hedge funds and other institutional investors.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Analyst Recommendations for Facebook (NASDAQ:FB)

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