Facebook, Inc. (NASDAQ:FB) Price Target Increased to $215.00 by Analysts at Needham & Company LLC

Facebook, Inc. (NASDAQ:FB) had its price objective upped by Needham & Company LLC from $185.00 to $215.00 in a research note issued on Thursday, November 2nd, MarketBeat reports. The brokerage presently has a “buy” rating on the social networking company’s stock. Needham & Company LLC’s target price points to a potential upside of 18.22% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. BidaskClub raised shares of Facebook from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Robert W. Baird reissued an “outperform” rating and set a $185.00 price objective (up previously from $163.00) on shares of Facebook in a research report on Thursday, July 27th. Mizuho reissued a “buy” rating on shares of Facebook in a research report on Monday, August 7th. MKM Partners reissued a “buy” rating and set a $200.00 price objective (up previously from $180.00) on shares of Facebook in a research report on Monday, August 7th. Finally, Pivotal Research downgraded shares of Facebook from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, forty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $197.95.

Facebook (NASDAQ FB) traded up $3.12 on Thursday, hitting $181.86. 14,490,197 shares of the company were exchanged, compared to its average volume of 16,815,619. Facebook has a twelve month low of $114.00 and a twelve month high of $182.90. The company has a market capitalization of $528,450.00, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 1.14 and a beta of 0.67.

Facebook (NASDAQ:FB) last issued its earnings results on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $9.84 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. The business’s quarterly 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 year.

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In other Facebook news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $166.85, for a total transaction of $125,137.50. Following the completion of the sale, the vice president now owns 96,268 shares in the company, valued at approximately $16,062,315.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jan Koum sold 2,600,000 shares of the business’s stock in a transaction 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. Insiders sold a total of 5,890,749 shares of company stock valued at $1,039,269,443 in the last quarter. 17.23% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in FB. Mutual of America Capital Management LLC grew its stake in shares of Facebook by 2.4% in the 1st quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock worth $40,366,000 after acquiring an additional 6,740 shares in the last quarter. Palisade Capital Management LLC NJ grew its stake in shares of Facebook by 2.4% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock worth $3,904,000 after acquiring an additional 602 shares in the last quarter. ING Groep NV grew its stake in shares of Facebook by 6.9% in the 2nd quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock worth $89,041,000 after acquiring an additional 37,822 shares in the last quarter. Grand Jean Capital Management Inc. grew its stake in shares of Facebook by 14.3% in the 1st quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock worth $18,076,000 after acquiring an additional 15,910 shares in the last quarter. Finally, Segment Wealth Management LLC grew its stake in shares of Facebook by 157.5% in the 1st quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock worth $1,042,000 after acquiring an additional 4,485 shares in the last quarter. Institutional investors and hedge funds own 57.44% of the company’s stock.

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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