Facebook (NASDAQ:FB) had its price target reduced by equities research analysts at Loop Capital to $200.00 in a report issued on Wednesday, The Fly reports. The firm currently has a “buy” rating on the social networking company’s stock. Loop Capital’s price objective indicates a potential upside of 33.27% from the stock’s current price.
A number of other analysts have also commented on the company. Mizuho decreased their price objective on Facebook from $245.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday. SunTrust Banks reissued a “buy” rating and set a $200.00 price objective on shares of Facebook in a report on Monday. Royal Bank of Canada reissued a “buy” rating and set a $225.00 price objective on shares of Facebook in a report on Monday. Macquarie reissued a “buy” rating and set a $190.00 price objective on shares of Facebook in a report on Monday. Finally, Wells Fargo & Co set a $220.00 price objective on Facebook and gave the stock a “buy” rating in a report on Monday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company. Facebook has an average rating of “Buy” and an average target price of $195.56.
Facebook stock traded down $1.68 during midday trading on Wednesday, reaching $150.07. The stock had a trading volume of 13,818,467 shares, compared to its average volume of 24,995,324. Facebook has a 12 month low of $139.03 and a 12 month high of $218.62. The firm has a market capitalization of $424.77 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 0.93 and a beta of 0.42.
Facebook (NASDAQ:FB) last issued its earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. The business had revenue of $13.73 billion during the quarter, compared to analyst estimates of $13.82 billion. Facebook had a return on equity of 28.18% and a net margin of 37.57%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. On average, sell-side analysts predict that Facebook will post 7.15 earnings per share for the current fiscal year.
In other Facebook news, VP David B. Fischer sold 2,648 shares of the stock in a transaction on Monday, October 29th. The stock was sold at an average price of $148.39, for a total transaction of $392,936.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Colin Stretch sold 750 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $184.98, for a total value of $138,735.00. Following the sale, the vice president now owns 86,365 shares in the company, valued at approximately $15,975,797.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,416,282 shares of company stock worth $603,782,983. 17.23% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the business. Townsend & Associates Inc increased its holdings in shares of Facebook by 6.6% in the second quarter. Townsend & Associates Inc now owns 4,077 shares of the social networking company’s stock worth $792,000 after purchasing an additional 254 shares during the period. Winslow Evans & Crocker Inc. increased its holdings in shares of Facebook by 2.2% in the second quarter. Winslow Evans & Crocker Inc. now owns 12,658 shares of the social networking company’s stock worth $2,462,000 after purchasing an additional 274 shares during the period. Valmark Advisers Inc. increased its holdings in shares of Facebook by 18.6% in the second quarter. Valmark Advisers Inc. now owns 1,797 shares of the social networking company’s stock worth $349,000 after purchasing an additional 282 shares during the period. Harvest Group Wealth Management LLC increased its holdings in shares of Facebook by 2.4% in the first quarter. Harvest Group Wealth Management LLC now owns 12,430 shares of the social networking company’s stock worth $1,986,000 after purchasing an additional 286 shares during the period. Finally, Truewealth LLC increased its holdings in shares of Facebook by 7.1% in the second quarter. Truewealth LLC now owns 4,306 shares of the social networking company’s stock worth $837,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 60.30% of the company’s stock.
Facebook, Inc provides various products to connect and share through mobile devices, personal computers, and other surfaces worldwide. Its products include Facebook Website and mobile application that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing visual stories through photos, videos, and direct messages; Messenger, a messaging application to communicate with other people, groups, and businesses across various platforms and devices; and WhatsApp, a mobile messaging application.
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