Facebook (NASDAQ:FB) Receives Outperform Rating from Credit Suisse Group

Credit Suisse Group reaffirmed their outperform rating on shares of Facebook (NASDAQ:FB) in a research report released on Monday, January 8th, Marketbeat.com reports. The brokerage currently has a $232.00 target price on the social networking company’s stock, up from their prior target price of $230.00.

Several other equities analysts have also commented on FB. Goldman Sachs Group set a $205.00 price objective on shares of Facebook and gave the company a buy rating in a research report on Friday, October 20th. Barclays increased their price objective on shares of Facebook from $200.00 to $215.00 and gave the company an overweight rating in a research report on Thursday, November 2nd. Needham & Company LLC increased their price objective on shares of Facebook from $185.00 to $215.00 and gave the company a buy rating in a research report on Thursday, November 2nd. Wedbush set a $225.00 price objective on shares of Facebook and gave the company a buy rating in a research report on Monday, October 30th. Finally, Atlantic Securities set a $215.00 price objective on shares of Facebook and gave the company a buy rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, forty-two have given a buy rating and three have given a strong buy rating to the stock. Facebook has a consensus rating of Buy and an average target price of $203.72.

Shares of Facebook (NASDAQ FB) traded down $8.40 during midday trading on Monday, hitting $179.37. 77,414,971 shares of the stock were exchanged, compared to its average volume of 21,170,154. The stock has a market capitalization of $521,210.00, a PE ratio of 33.34, a PEG ratio of 1.02 and a beta of 0.68. Facebook has a 1 year low of $126.78 and a 1 year high of $188.90.

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

In other Facebook news, VP David B. Fischer sold 16,621 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $183.51, for a total transaction of $3,050,119.71. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Todd Schroepfer sold 38,017 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The stock was sold at an average price of $187.83, for a total transaction of $7,140,733.11. Following the sale, the insider now directly owns 381,521 shares in the company, valued at approximately $71,661,089.43. The disclosure for this sale can be found here. Insiders have sold a total of 4,182,199 shares of company stock worth $752,724,430 in the last three months. Insiders own 17.23% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Country Trust Bank lifted its stake in shares of Facebook by 550.6% in the 4th quarter. Country Trust Bank now owns 566 shares of the social networking company’s stock valued at $100,000 after purchasing an additional 479 shares during the period. Moisand Fitzgerald Tamayo LLC purchased a new stake in Facebook in the 3rd quarter worth $111,000. D. Scott Neal Inc. increased its holdings in Facebook by 1,358.0% in the 2nd quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock worth $110,000 after acquiring an additional 679 shares in the last quarter. Stelac Advisory Services LLC purchased a new stake in Facebook in the 3rd quarter worth $152,000. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Facebook in the 2nd quarter worth $138,000. Institutional investors and hedge funds own 57.75% of the company’s stock.

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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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