Cowen restated their buy rating on shares of Facebook (NASDAQ:FB) in a research note released on Thursday morning. Cowen currently has a $210.00 price objective on the social networking company’s stock.
A number of other equities research analysts have also recently commented on FB. Vetr upgraded shares of Facebook from a buy rating to a strong-buy rating and set a $198.52 price target for the company in a report on Wednesday, December 13th. Zacks Investment Research upgraded shares of Facebook from a hold rating to a buy rating and set a $198.00 price target for the company in a report on Tuesday, January 2nd. Canaccord Genuity reaffirmed a buy rating and issued a $230.00 price objective on shares of Facebook in a research note on Tuesday, January 2nd. Credit Suisse Group reaffirmed an outperform rating and issued a $232.00 price objective (up from $230.00) on shares of Facebook in a research note on Monday, January 8th. Finally, JPMorgan Chase set a $230.00 price objective on shares of Facebook and gave the company a buy rating in a research note on Monday, January 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $209.94.
NASDAQ:FB traded up $0.75 during trading hours on Thursday, reaching $164.62. The company had a trading volume of 9,186,206 shares, compared to its average volume of 34,032,258. The stock has a market capitalization of $483,159.63, a price-to-earnings ratio of 26.72, a PEG ratio of 0.90 and a beta of 0.79. Facebook has a twelve month low of $139.75 and a twelve month high of $195.32.
Facebook (NASDAQ:FB) last posted its quarterly earnings results on Wednesday, January 31st. The social networking company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.24. The business had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $12.58 billion. Facebook had a net margin of 39.16% and a return on equity of 26.49%. research analysts forecast that Facebook will post 7.16 EPS for the current year.
In other Facebook news, CEO Mark Zuckerberg sold 220,000 shares of Facebook stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $175.62, for a total transaction of $38,636,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David B. Fischer sold 5,587 shares of Facebook stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $187.66, for a total transaction of $1,048,456.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,812,678 shares of company stock valued at $1,193,584,853. 17.23% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in FB. Vanguard Group Inc. boosted its stake in Facebook by 3.3% in 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 purchasing an additional 5,151,190 shares in the last quarter. BlackRock Inc. boosted its stake in Facebook by 3.6% in the 4th quarter. BlackRock Inc. now owns 146,170,789 shares of the social networking company’s stock worth $25,793,297,000 after purchasing an additional 5,107,163 shares in the last quarter. Capital World Investors boosted its stake in Facebook by 1.5% in 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 purchasing an additional 833,810 shares in the last quarter. Northern Trust Corp boosted its stake in Facebook by 0.4% in 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 purchasing an additional 114,694 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Facebook by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 25,433,759 shares of the social networking company’s stock worth $4,478,724,000 after purchasing an additional 1,010,306 shares in the last quarter. Hedge funds and other institutional investors own 58.48% of the company’s stock.
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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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