Facebook’s (NASDAQ:FB) “Overweight” Rating Reaffirmed at KeyCorp

Facebook, Inc. (NASDAQ:FB)‘s stock had its “overweight” rating reiterated by analysts at KeyCorp in a research note issued on Thursday, November 2nd. They currently have a $220.00 price objective on the social networking company’s stock, up from their previous price objective of $200.00. KeyCorp’s target price points to a potential upside of 20.97% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Barclays PLC reiterated an “overweight” rating and issued a $168.00 price target (up from $160.00) on shares of Facebook in a research report on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and issued a $192.00 price target (up from $175.00) on shares of Facebook in a research report on Thursday, July 27th. Vetr upgraded shares of Facebook from a “hold” rating to a “buy” rating and set a $180.74 price target for the company in a research report on Monday, September 25th. Royal Bank Of Canada reiterated a “buy” rating and issued a $185.00 price target on shares of Facebook in a research report on Tuesday, July 11th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $195.00 price objective (up previously from $190.00) on shares of Facebook in a research report on Monday, October 2nd. 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 company’s stock. The stock currently has an average rating of “Buy” and an average price target of $197.95.

Facebook (FB) traded up $3.12 during trading hours on Thursday, reaching $181.86. 14,490,197 shares of the company traded hands, compared to its average volume of 16,815,619. The company has a market capitalization of $528,450.00, a price-to-earnings ratio of 34.49, a P/E/G ratio of 1.14 and a beta of 0.67. Facebook has a 1-year low of $114.00 and a 1-year high of $182.90.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.31. Facebook had a net margin of 41.69% and a return on equity of 23.64%. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $9.84 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. analysts expect that Facebook will post 5.86 EPS for the current year.

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In other Facebook news, CEO Mark Zuckerberg sold 254,525 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $166.97, for a total transaction of $42,498,039.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $164.21, for a total transaction of $123,157.50. Following the sale, the vice president now directly owns 92,591 shares of the company’s stock, valued at $15,204,368.11. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,890,749 shares of company stock valued at $1,039,269,443. Company insiders own 17.23% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in FB. Vanguard Group Inc. increased its holdings in shares of Facebook by 3.3% during 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 in the last quarter. BlackRock Inc. increased its holdings in shares of Facebook by 3.0% during 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 in the last quarter. State Street Corp increased its holdings in shares of Facebook by 1.7% during 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 in the last quarter. Capital World Investors increased its holdings in shares of Facebook by 1.5% during 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 in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Facebook by 0.4% during 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 in the last quarter. Institutional investors own 57.44% of the company’s stock.

Facebook Company Profile

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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