Goldman Sachs Group Reaffirms “Buy” Rating for Facebook (NASDAQ:FB)

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Facebook (NASDAQ:FB)‘s stock had its “buy” rating restated by equities researchers at Goldman Sachs Group in a report released on Friday, AnalystRatings.com reports. They presently have a $228.00 price target on the social networking company’s stock. Goldman Sachs Group’s target price would suggest a potential upside of 11.29% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. China Renaissance Securities assumed coverage on Facebook in a research note on Wednesday, May 29th. They set a “buy” rating and a $245.00 price target on the stock. BidaskClub lowered Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research note on Monday, June 24th. Jefferies Financial Group boosted their price target on ServiceNow from $242.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Oppenheimer boosted their price target on Chipotle Mexican Grill from $400.00 to $525.00 and gave the stock an “underperform” rating in a research note on Thursday, April 25th. Finally, SunTrust Banks restated a “hold” rating and set a $44.00 price target on shares of Shutterstock in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and forty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $211.81.

FB opened at $204.87 on Friday. The company has a 50-day moving average of $185.39. Facebook has a 1 year low of $123.02 and a 1 year high of $218.62. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.38 and a quick ratio of 5.38. The stock has a market capitalization of $574.41 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.24 and a beta of 0.97.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, April 24th. The social networking company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.80). Facebook had a net margin of 33.17% and a return on equity of 23.67%. The company had revenue of $15.08 billion during the quarter, compared to analysts’ expectations of $14.97 billion. During the same quarter last year, the firm earned $1.69 EPS. Facebook’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, research analysts predict that Facebook will post 8 earnings per share for the current fiscal year.

In other Facebook news, CEO Mark Zuckerberg sold 108,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $178.64, for a total value of $19,293,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Sheryl Sandberg sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $195.13, for a total value of $10,732,150.00. The disclosure for this sale can be found here. Insiders sold 603,980 shares of company stock valued at $110,214,062 over the last three months. 14.53% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Executive Wealth Management LLC purchased a new stake in shares of Facebook in the fourth quarter valued at approximately $5,196,000. Ruggie Capital Group increased its position in shares of Facebook by 53.8% during the fourth quarter. Ruggie Capital Group now owns 446 shares of the social networking company’s stock worth $58,000 after purchasing an additional 156 shares in the last quarter. Heritage Investors Management Corp increased its position in shares of Facebook by 13.1% during the fourth quarter. Heritage Investors Management Corp now owns 36,210 shares of the social networking company’s stock worth $4,747,000 after purchasing an additional 4,190 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Facebook during the fourth quarter worth approximately $80,000. Finally, HighPoint Advisor Group LLC increased its position in shares of Facebook by 10.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 18,085 shares of the social networking company’s stock worth $2,935,000 after purchasing an additional 1,641 shares in the last quarter. Institutional investors and hedge funds own 61.73% of the company’s stock.

About Facebook

Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.

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Analyst Recommendations for Facebook (NASDAQ:FB)

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