J P Morgan Chase & Co reissued their buy rating on shares of Facebook, Inc. (NASDAQ:FB) in a research note published on Thursday, November 2nd. They currently have a $225.00 price objective on the social networking company’s stock.
A number of other brokerages have also issued reports on FB. Goldman Sachs Group, Inc. (The) set a $205.00 target price on Facebook and gave the stock a buy rating in a research report on Friday, October 20th. Oppenheimer Holdings, Inc. boosted their target price on Facebook from $170.00 to $195.00 and gave the stock an outperform rating in a research report on Thursday, July 27th. JMP Securities reaffirmed an outperform rating and set a $195.00 target price (up from $170.00) on shares of Facebook in a research report on Thursday, July 27th. Wedbush set a $225.00 target price on Facebook and gave the stock a buy rating in a research report on Monday, October 30th. Finally, Needham & Company LLC boosted their target price on Facebook from $185.00 to $215.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Facebook presently has an average rating of Buy and an average price target of $197.95.
Facebook (FB) opened at $181.86 on Thursday. Facebook has a 12-month low of $114.00 and a 12-month high of $182.90. The stock has a market capitalization of $519,384.16, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.67.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company had revenue of $10.33 billion during the quarter, compared to analyst estimates of $9.84 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. research analysts expect that Facebook will post 5.86 earnings per share for the current year.
In other news, VP Colin Stretch sold 750 shares of the business’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 completion of the transaction, the vice president now directly owns 92,591 shares of the company’s stock, valued at $15,204,368.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jan Koum sold 2,600,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $180.09, for a total transaction of $468,234,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,890,749 shares of company stock valued at $1,039,269,443. Company insiders own 17.23% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in FB. Everett Harris & Co. CA boosted its stake in Facebook by 4.7% in the 1st quarter. Everett Harris & Co. CA now owns 130,754 shares of the social networking company’s stock worth $18,574,000 after purchasing an additional 5,837 shares in the last quarter. Tealwood Asset Management Inc. acquired a new stake in Facebook in the 1st quarter worth approximately $1,451,000. Parsec Financial Management Inc. boosted its stake in Facebook by 17.9% in the 1st quarter. Parsec Financial Management Inc. now owns 30,598 shares of the social networking company’s stock worth $4,346,000 after purchasing an additional 4,651 shares in the last quarter. Gamble Jones Investment Counsel acquired a new stake in Facebook in the 1st quarter worth approximately $288,000. Finally, David R. Rahn & Associates Inc. acquired a new stake in Facebook in the 1st quarter worth approximately $1,391,000. 57.44% of the stock is currently owned by institutional investors and hedge funds.
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.
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