Canaccord Genuity Reiterates Buy Rating for Facebook, Inc. (FB)

Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity in a research report issued to clients and investors on Friday. They presently have a $175.00 price target on the social networking company’s stock. Canaccord Genuity’s target price would suggest a potential upside of 14.48% from the company’s current price.

Several other analysts have also weighed in on FB. Vetr raised Facebook from a “hold” rating to a “buy” rating and set a $140.41 target price on the stock in a report on Thursday, February 16th. Deutsche Bank AG reissued a “buy” rating and issued a $150.00 target price on shares of Facebook in a report on Wednesday, February 22nd. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of Facebook in a report on Tuesday, February 28th. Aegis initiated coverage on Facebook in a report on Tuesday, February 28th. Finally, Citigroup Inc. reissued a “top pick” rating and issued a $165.00 target price on shares of Facebook in a report on Friday, March 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $164.40.

Analyst Recommendations for Facebook (NASDAQ:FB)

Shares of Facebook (NASDAQ FB) opened at 152.87 on Friday. Facebook has a 1-year low of $108.23 and a 1-year high of $155.59. The firm has a market cap of $443.04 billion, a PE ratio of 38.87 and a beta of 0.66. The company has a 50-day moving average of $150.77 and a 200-day moving average of $137.08.

Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, May 3rd. The social networking company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.16. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.83 billion. Facebook had a return on equity of 20.27% and a net margin of 36.45%. Facebook’s quarterly revenue was up 49.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. Analysts predict that Facebook will post $4.85 earnings per share for the current fiscal year.

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In other news, COO Sheryl Sandberg sold 163,500 shares of the stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $153.74, for a total value of $25,136,490.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan Desmond-Hellmann sold 209 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $144.67, for a total value of $30,236.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,569,744 shares of company stock worth $973,945,236. 19.08% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI increased its position in Facebook by 20.0% in the first quarter. Arcadia Investment Management Corp MI now owns 721 shares of the social networking company’s stock worth $102,000 after buying an additional 120 shares during the period. Advisors Preferred LLC acquired a new stake in shares of Facebook during the first quarter valued at approximately $102,000. Cohen Capital Management Inc. acquired a new stake in shares of Facebook during the first quarter valued at approximately $121,000. Cable Hill Partners LLC increased its stake in shares of Facebook by 9.5% in the first quarter. Cable Hill Partners LLC now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 79 shares during the last quarter. Finally, Foresters Investment Management Company Inc. acquired a new stake in shares of Facebook during the first quarter valued at approximately $129,000. 57.66% 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.

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