Facebook, Inc. (NASDAQ:FB) Price Target Increased to $215.00 by Analysts at Aegis

Facebook, Inc. (NASDAQ:FB) had its target price increased by Aegis from $200.00 to $215.00 in a research note issued to investors on Wednesday, November 1st, MarketBeat.com reports. They currently have a buy rating on the social networking company’s stock.

A number of other brokerages have also recently issued reports on FB. Zacks Investment Research cut Facebook from a buy rating to a hold rating in a research note on Wednesday, August 9th. Stifel Nicolaus restated a buy rating and set a $200.00 price objective (up from $170.00) on shares of Facebook in a research note on Thursday, July 27th. Wedbush restated a buy rating on shares of Facebook in a research note on Thursday, July 27th. Credit Suisse Group restated a buy rating on shares of Facebook in a research note on Wednesday, October 11th. Finally, Macquarie set a $175.00 price objective on Facebook and gave the company a buy rating in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, forty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Facebook has a consensus rating of Buy and a consensus target price of $197.95.

Shares of Facebook (NASDAQ FB) opened at $178.74 on Wednesday. The firm has a market cap of $519,380.00, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 1.14 and a beta of 0.67. Facebook has a 52-week low of $114.00 and a 52-week high of $182.90.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.31. The firm had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. equities research analysts anticipate that Facebook will post 5.86 earnings per share for the current year.

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In related news, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $171.13, for a total transaction of $2,738,080.00. Following the completion of the transaction, the insider now directly owns 194,666 shares of the company’s stock, valued at $33,313,192.58. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $177.68, for a total value of $133,260.00. Following the transaction, the vice president now directly owns 87,341 shares of the company’s stock, valued at $15,518,748.88. The disclosure for this sale can be found here. Insiders have sold 5,729,944 shares of company stock valued at $1,010,501,428 in the last quarter. 17.23% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Facebook by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock valued at $24,538,895,000 after purchasing an additional 5,151,190 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Facebook by 3.0% in the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock valued at $20,967,696,000 after purchasing an additional 4,032,727 shares during the last quarter. State Street Corp lifted its stake in shares of Facebook by 1.7% in the 1st quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock valued at $13,262,607,000 after purchasing an additional 1,536,158 shares during the last quarter. Capital World Investors lifted its stake in shares of Facebook by 1.5% in the 2nd quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock valued at $8,578,347,000 after purchasing an additional 833,810 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Facebook by 0.4% in the 2nd quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock valued at $3,994,161,000 after purchasing an additional 114,694 shares during the last quarter. 57.44% of the stock is owned by institutional investors.

About Facebook

Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

Analyst Recommendations for Facebook (NASDAQ:FB)

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