Wall Street analysts expect Facebook Inc (NASDAQ:FB) to announce $11.39 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Facebook’s earnings, with estimates ranging from $10.59 billion to $11.68 billion. Facebook posted sales of $8.03 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 41.8%. The firm is expected to issue its next quarterly earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Facebook will report full year sales of $11.39 billion for the current financial year, with estimates ranging from $53.65 billion to $56.82 billion. For the next financial year, analysts expect that the business will post sales of $70.23 billion per share, with estimates ranging from $68.21 billion to $74.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Facebook.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, January 31st. The social networking company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.24. Facebook had a net margin of 39.16% and a return on equity of 26.49%. The company had revenue of $12.97 billion during the quarter, compared to the consensus estimate of $12.58 billion.
Several brokerages have recently weighed in on FB. BidaskClub upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 10th. Vetr upgraded shares of Facebook from a “buy” rating to a “strong-buy” rating and set a $210.43 target price for the company in a research note on Wednesday, January 10th. JMP Securities set a $235.00 target price on shares of Facebook and gave the stock a “buy” rating in a research note on Thursday, February 1st. Canaccord Genuity reiterated a “buy” rating and set a $240.00 target price (up previously from $230.00) on shares of Facebook in a research note on Thursday, February 1st. Finally, Jefferies Group reiterated a “buy” rating and set a $230.00 target price on shares of Facebook in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, forty-one have assigned a buy rating and two have issued a strong buy rating to the company. Facebook currently has a consensus rating of “Buy” and an average price target of $214.70.
In other Facebook news, CEO Mark Zuckerberg sold 440,000 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $183.99, for a total value of $80,955,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Todd Schroepfer sold 38,050 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $174.39, for a total transaction of $6,635,539.50. Following the completion of the transaction, the insider now directly owns 381,521 shares of the company’s stock, valued at $66,533,447.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,945,155 shares of company stock valued at $886,119,243. 17.23% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Facebook by 3.4% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,115,741 shares of the social networking company’s stock worth $1,215,867,000 after purchasing an additional 231,883 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Facebook by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 175,610 shares of the social networking company’s stock worth $26,514,000 after purchasing an additional 907 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of Facebook by 2.9% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 424,191 shares of the social networking company’s stock worth $72,482,000 after purchasing an additional 11,940 shares in the last quarter. Birinyi Associates Inc. increased its stake in shares of Facebook by 11.7% during the 2nd quarter. Birinyi Associates Inc. now owns 30,500 shares of the social networking company’s stock worth $4,605,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Meridian Management Co. purchased a new position in shares of Facebook during the 2nd quarter worth approximately $1,706,000. 58.48% of the stock is owned by institutional investors.
Shares of Facebook (NASDAQ:FB) traded down $0.33 on Friday, hitting $183.86. 15,638,536 shares of the stock traded hands, compared to its average volume of 24,650,000. Facebook has a twelve month low of $137.60 and a twelve month high of $195.32. The firm has a market capitalization of $534,110.00, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 0.94 and a beta of 0.64.
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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.
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