Royal Bank Of Canada Reiterates Buy Rating for Facebook, Inc. (FB)

Facebook, Inc. (NASDAQ:FB)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank Of Canada in a note issued to investors on Friday. They currently have a $195.00 target price on the social networking company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 13.01% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Piper Jaffray Companies restated a “buy” rating on shares of Facebook in a research note on Wednesday. Credit Suisse Group restated a “buy” rating on shares of Facebook in a research note on Wednesday. Wells Fargo & Company set a $215.00 price target on Facebook and gave the stock a “buy” rating in a research note on Friday, October 6th. Needham & Company LLC restated a “buy” rating and set a $185.00 price target on shares of Facebook in a research note on Thursday, October 5th. Finally, KeyCorp restated a “buy” rating and set a $200.00 price target on shares of Facebook in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, forty-three have assigned a buy rating and three have given a strong buy rating to the company’s stock. Facebook currently has a consensus rating of “Buy” and an average target price of $185.38.

Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The firm had revenue of $9.32 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the firm posted $0.97 earnings per share. The firm’s quarterly revenue was up 44.8% on a year-over-year basis.

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In other news, Director Jan Koum sold 3,600,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $160.06, for a total value of $576,216,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $173.58, for a total transaction of $130,185.00. Following the completion of the sale, the vice president now directly owns 94,091 shares of the company’s stock, valued at $16,332,315.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,024,241 shares of company stock valued at $1,499,994,651. 19.08% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC lifted its stake in Facebook by 2.4% during the first quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock valued at $40,366,000 after purchasing an additional 6,740 shares during the last quarter. ING Groep NV lifted its stake in Facebook by 6.9% during the second quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock valued at $89,041,000 after purchasing an additional 37,822 shares during the last quarter. Grand Jean Capital Management Inc. lifted its stake in Facebook by 14.3% during the first quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock valued at $18,076,000 after purchasing an additional 15,910 shares during the last quarter. Segment Wealth Management LLC lifted its stake in Facebook by 157.5% during the first quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock valued at $1,042,000 after purchasing an additional 4,485 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. acquired a new stake in Facebook during the first quarter valued at approximately $94,601,000. 57.26% of the stock is owned by institutional investors and hedge funds.

Facebook Company Profile

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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