Wedbush Reaffirms “Outperform” Rating for Facebook, Inc. (NASDAQ:FB)

Wedbush restated their outperform rating on shares of Facebook, Inc. (NASDAQ:FB) in a report released on Thursday, November 2nd, The Fly reports. The firm currently has a $230.00 target price on the social networking company’s stock, up from their prior target price of $225.00.

Several other brokerages have also recently issued reports on FB. Aegis increased their price objective on shares of Facebook from $200.00 to $215.00 and gave the stock a buy rating in a research report on Wednesday, November 1st. Royal Bank Of Canada increased their price objective on shares of Facebook from $195.00 to $230.00 and gave the stock an outperform rating in a research report on Thursday, November 2nd. Barclays PLC increased their price objective on shares of Facebook from $200.00 to $215.00 and gave the stock an overweight rating in a research report on Thursday, November 2nd. Jefferies Group LLC increased their price objective on shares of Facebook to $225.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. Finally, Citigroup Inc. increased their price objective on shares of Facebook from $200.00 to $210.00 and gave the stock a buy rating in a research report on Thursday, November 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating, forty-three have given a buy rating and two have assigned a strong buy rating to the stock. Facebook presently has an average rating of Buy and a consensus target price of $197.95.

Shares of Facebook (FB) traded up $0.32 during trading on Thursday, reaching $178.39. 7,591,612 shares of the company traded hands, compared to its average volume of 16,909,369. The company has a market cap of $517,440.00, a P/E ratio of 34.44, a P/E/G ratio of 1.15 and a beta of 0.67. Facebook has a one year low of $114.00 and a one 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 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 quarter in the prior year, the firm earned $1.09 EPS. The business’s revenue was up 47.3% on a year-over-year basis. equities research analysts expect that Facebook will post 5.81 EPS for the current year.

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In related news, insider Michael Todd Schroepfer sold 38,055 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $172.60, for a total transaction of $6,568,293.00. Following the sale, the insider now directly owns 533,937 shares of the company’s stock, valued at approximately $92,157,526.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 254,525 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $166.97, for a total transaction of $42,498,039.25. The disclosure for this sale can be found here. Insiders sold a total of 4,890,410 shares of company stock worth $859,895,025 over the last three months. Insiders own 19.08% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position 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. increased its position 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 increased its position 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 increased its position 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 increased its position 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. 57.35% of the stock is currently 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.

The Fly

Analyst Recommendations for Facebook (NASDAQ:FB)

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