Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday.
Other equities research analysts have also recently issued reports about the company. Mizuho reiterated a “buy” rating and issued a $230.00 price target on shares of Facebook in a research note on Wednesday, September 20th. Barclays PLC set a $200.00 price target on Facebook and gave the company a “buy” rating in a research note on Friday, July 28th. FBN Securities reiterated an “outperform” rating and issued a $210.00 price target (up from $175.00) on shares of Facebook in a research note on Sunday, July 30th. Morgan Stanley set a $190.00 price target on Facebook and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Atlantic Securities set a $200.00 price target on Facebook and gave the company a “buy” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have issued a buy rating and three have assigned a strong buy rating to the company. Facebook currently has an average rating of “Buy” and a consensus target price of $185.38.
Shares of Facebook (NASDAQ:FB) opened at 172.55 on Wednesday. The company has a market cap of $501.12 billion, a P/E ratio of 38.62 and a beta of 0.70. The firm has a 50 day moving average price of $170.39 and a 200-day moving average price of $158.07. Facebook has a 12 month low of $113.55 and a 12 month high of $175.49.
Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. Analysts anticipate that Facebook will post $5.34 earnings per share for the current fiscal year.
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In other Facebook news, VP Colin Stretch sold 750 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $159.87, for a total value of $119,902.50. Following the completion of the transaction, the vice president now directly owns 84,656 shares of the company’s stock, valued at approximately $13,533,954.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David B. Fischer sold 50,533 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $169.95, for a total transaction of $8,588,083.35. The disclosure for this sale can be found here. Insiders sold a total of 9,024,241 shares of company stock valued at $1,499,994,651 over the last quarter. 19.08% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Facebook by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 162,530,760 shares of the social networking company’s stock worth $24,538,895,000 after acquiring an additional 5,151,190 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Facebook by 3.0% during the 2nd quarter. BlackRock Inc. now owns 138,877,313 shares of the social networking company’s stock worth $20,967,696,000 after acquiring an additional 4,032,727 shares during the last quarter. State Street Corp lifted its holdings in shares of Facebook by 1.7% during the 1st quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after acquiring an additional 1,536,158 shares during the last quarter. Capital World Investors lifted its holdings in shares of Facebook by 1.5% during the 2nd quarter. Capital World Investors now owns 56,817,768 shares of the social networking company’s stock worth $8,578,347,000 after acquiring an additional 833,810 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Facebook by 0.4% during the 2nd quarter. Northern Trust Corp now owns 26,454,900 shares of the social networking company’s stock worth $3,994,161,000 after acquiring an additional 114,694 shares during the last quarter. 57.26% of the stock is owned by institutional investors.
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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