Facebook (FB) PT Raised to $240.00 at Raymond James

Facebook (NASDAQ:FB) had its target price increased by equities research analysts at Raymond James from $230.00 to $240.00 in a note issued to investors on Thursday. The brokerage currently has a “strong-buy” rating on the social networking company’s stock. Raymond James’ target price indicates a potential upside of 38.14% from the company’s previous close.

Several other research firms have also issued reports on FB. Royal Bank of Canada increased their price objective on Facebook to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. UBS set a $214.00 price objective on Facebook and gave the stock a “buy” rating in a research note on Thursday, February 1st. Robert W. Baird set a $225.00 price objective on Facebook and gave the stock a “buy” rating in a research note on Thursday, February 1st. Oppenheimer reiterated a “buy” rating and set a $225.00 price objective (up from $220.00) on shares of Facebook in a research note on Thursday, February 1st. Finally, JMP Securities set a $235.00 price objective on Facebook and gave the stock a “buy” rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-two have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $211.16.

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FB stock traded up $14.05 during midday trading on Thursday, hitting $173.74. The stock had a trading volume of 33,894,523 shares, compared to its average volume of 33,164,828. The stock has a market cap of $463,899.47, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 0.88 and a beta of 0.79. Facebook has a 52 week low of $144.42 and a 52 week high of $195.32.

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, topping the consensus estimate of $1.96 by $0.24. Facebook had a return on equity of 26.49% and a net margin of 39.16%. The firm had revenue of $12.97 billion during the quarter, compared to analyst estimates of $12.58 billion. research analysts anticipate that Facebook will post 7.11 EPS for the current fiscal year.

In related news, CEO Mark Zuckerberg sold 290,000 shares of the firm’s stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $164.10, for a total value of $47,589,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David B. Fischer sold 5,587 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $187.66, for a total value of $1,048,456.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,351,678 shares of company stock worth $1,448,483,923. 17.23% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Regal Investment Advisors LLC boosted its holdings in Facebook by 0.3% during the second quarter. Regal Investment Advisors LLC now owns 5,800 shares of the social networking company’s stock worth $876,000 after buying an additional 18 shares during the last quarter. Aspen Investment Management Inc lifted its holdings in shares of Facebook by 0.4% during the 2nd quarter. Aspen Investment Management Inc now owns 6,915 shares of the social networking company’s stock valued at $1,044,000 after purchasing an additional 30 shares in the last quarter. First Commonwealth Financial Corp PA lifted its holdings in shares of Facebook by 0.5% during the 2nd quarter. First Commonwealth Financial Corp PA now owns 8,630 shares of the social networking company’s stock valued at $1,303,000 after purchasing an additional 46 shares in the last quarter. Affinity Wealth Management lifted its holdings in shares of Facebook by 2.5% during the 2nd quarter. Affinity Wealth Management now owns 2,184 shares of the social networking company’s stock valued at $330,000 after purchasing an additional 54 shares in the last quarter. Finally, Odey Holdings AG lifted its holdings in shares of Facebook by 5.4% during the 2nd quarter. Odey Holdings AG now owns 1,060 shares of the social networking company’s stock valued at $160,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 58.55% of the company’s stock.

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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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