Facebook’s (FB) “Buy” Rating Reiterated at Wedbush

Wedbush reiterated their buy rating on shares of Facebook (NASDAQ:FB) in a report issued on Thursday. They currently have a $230.00 price target on the social networking company’s stock.

Several other brokerages also recently commented on FB. Vetr upgraded shares of Facebook from a buy rating to a strong-buy rating and set a $209.16 price objective for the company in a research report on Thursday. Credit Suisse Group restated a buy rating on shares of Facebook in a research report on Wednesday, October 11th. UBS Group set a $208.00 price objective on shares of Facebook and gave the company a buy rating in a research report on Thursday, November 2nd. Deutsche Bank restated a buy rating on shares of Facebook in a research report on Thursday, November 2nd. Finally, Monness Crespi & Hardt upgraded shares of Facebook from a neutral rating to a buy rating and set a $210.00 price objective for the company in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-two have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $202.83.

Shares of Facebook (NASDAQ:FB) opened at $190.00 on Thursday. Facebook has a 1 year low of $129.52 and a 1 year high of $190.66. The firm has a market cap of $552,100.00, a P/E ratio of 35.32, a PEG ratio of 1.06 and a beta of 0.68.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 EPS 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 business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. During the same period in the previous year, the business earned $1.09 earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. equities research analysts expect that Facebook will post 5.86 EPS for the current fiscal year.

In other Facebook news, CFO David M. Wehner sold 15,470 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $179.05, for a total transaction of $2,769,903.50. Following the sale, the chief financial officer now owns 67,539 shares of the company’s stock, valued at $12,092,857.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $180.16, for a total transaction of $135,120.00. Following the sale, the vice president now directly owns 88,841 shares in the company, valued at approximately $16,005,594.56. The disclosure for this sale can be found here. In the last three months, insiders sold 4,160,000 shares of company stock worth $748,854,420. 17.23% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. CHURCHILL MANAGEMENT Corp boosted its position in shares of Facebook by 5.2% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 50,791 shares of the social networking company’s stock worth $7,668,000 after purchasing an additional 2,505 shares in the last quarter. Swedbank boosted its position in shares of Facebook by 1.7% during the 2nd quarter. Swedbank now owns 3,486,047 shares of the social networking company’s stock worth $526,323,000 after purchasing an additional 58,404 shares in the last quarter. Trust Department MB Financial Bank N A boosted its position in shares of Facebook by 5.0% during the 2nd quarter. Trust Department MB Financial Bank N A now owns 1,413 shares of the social networking company’s stock worth $213,000 after purchasing an additional 67 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Facebook by 4.9% during the 2nd quarter. NEXT Financial Group Inc now owns 49,502 shares of the social networking company’s stock worth $7,474,000 after purchasing an additional 2,326 shares in the last quarter. Finally, Northstar Group Inc. boosted its position in shares of Facebook by 1.8% during the 2nd quarter. Northstar Group Inc. now owns 9,700 shares of the social networking company’s stock worth $1,464,000 after purchasing an additional 170 shares in the last quarter. 57.76% of the stock is currently owned by institutional investors and hedge funds.

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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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