Facebook (FB) Rating Lowered to Buy at Vetr

Facebook (NASDAQ:FB) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. They presently have a $203.53 price objective on the social networking company’s stock. Vetr‘s price target would indicate a potential upside of 9.89% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Cowen reissued an “average” rating and set a $200.00 target price (up from $195.00) on shares of Facebook in a research note on Wednesday, September 27th. Credit Suisse Group reissued a “buy” rating on shares of Facebook in a research note on Wednesday, October 11th. Wells Fargo & Co set a $215.00 price target on Facebook and gave the stock a “buy” rating in a report on Friday, October 6th. Needham & Company LLC restated a “buy” rating and issued a $185.00 price target on shares of Facebook in a report on Thursday, October 5th. Finally, KeyCorp restated a “buy” rating and issued a $200.00 price target on shares of Facebook in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, forty-four have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $201.84.

Facebook (NASDAQ FB) traded up $0.89 on Wednesday, reaching $185.22. The company’s stock had a trading volume of 3,586,696 shares, compared to its average volume of 16,480,000. The stock has a market cap of $537,810.00, a P/E ratio of 34.43, a PEG ratio of 1.05 and a beta of 0.68. Facebook has a 12-month low of $118.32 and a 12-month high of $186.21.

Facebook (NASDAQ:FB) last posted its quarterly earnings data 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. The firm had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The firm’s revenue was up 47.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.09 EPS. equities research analysts predict that Facebook will post 5.86 EPS for the current year.

In related news, Director Jan Koum sold 2,600,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $180.09, for a total value of $468,234,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 16,000 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $172.89, for a total value of $2,766,240.00. The disclosure for this sale can be found here. Insiders have sold 4,568,712 shares of company stock worth $818,756,804 in the last 90 days. Insiders own 17.23% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Facebook in the fourth quarter worth about $1,429,000. Washington Trust Bank grew its stake in Facebook by 1.7% in the fourth quarter. Washington Trust Bank now owns 63,141 shares of the social networking company’s stock worth $11,142,000 after purchasing an additional 1,073 shares in the last quarter. Neville Rodie & Shaw Inc. grew its stake in Facebook by 6.9% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 45,352 shares of the social networking company’s stock worth $8,003,000 after purchasing an additional 2,945 shares in the last quarter. American Financial Network Advisory Services LLC grew its stake in Facebook by 4.2% in the fourth quarter. American Financial Network Advisory Services LLC now owns 12,201 shares of the social networking company’s stock worth $2,153,000 after purchasing an additional 492 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Facebook by 5.6% in the third quarter. Prudential Financial Inc. now owns 6,040,566 shares of the social networking company’s stock worth $1,032,152,000 after purchasing an additional 319,228 shares in the last quarter. 57.72% of the stock is currently owned by institutional investors and hedge funds.

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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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