Facebook (NASDAQ:FB) had its target price boosted by stock analysts at Aegis from $206.00 to $215.00 in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the social networking company’s stock. Aegis’ price target indicates a potential upside of 43.27% from the stock’s previous close.
Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. restated a “$210.91” rating and issued a $242.00 price target on shares of Facebook in a report on Monday, July 23rd. Credit Suisse Group set a $265.00 price target on Facebook and gave the stock a “buy” rating in a report on Monday, July 16th. Jefferies Financial Group restated a “buy” rating and issued a $240.00 price target on shares of Facebook in a report on Monday, July 16th. Nomura initiated coverage on Facebook in a report on Tuesday, July 10th. They issued a “buy” rating and a $228.00 price target for the company. Finally, Morgan Stanley increased their price target on Facebook from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, forty-one have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $195.56.
Shares of Facebook stock traded down $1.68 during trading hours on Wednesday, hitting $150.07. The company’s 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 company has a market capitalization of $424.77 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 0.93 and a beta of 0.42.
Facebook (NASDAQ:FB) last announced its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.30. Facebook had a return on equity of 28.18% and a net margin of 37.57%. The company had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same period in the prior year, the company earned $1.59 earnings per share. The company’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, equities research analysts expect that Facebook will post 7.15 EPS for the current fiscal year.
In related news, VP David B. Fischer sold 2,648 shares of the stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $148.39, for a total transaction of $392,936.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 218,000 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $183.07, for a total value of $39,909,260.00. The disclosure for this sale can be found here. Insiders have sold 3,416,282 shares of company stock valued at $603,782,983 over the last three months. Insiders own 17.23% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Trail Advisors LLC lifted its position in shares of Facebook by 4,170.3% in the first quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock valued at $9,071,000 after buying an additional 8,858,520 shares during the last quarter. Fundsmith Equity Fund L.P. acquired a new stake in shares of Facebook in the second quarter valued at approximately $1,072,219,000. Cornerstone Wealth Management LLC lifted its position in shares of Facebook by 21,254.2% in the second quarter. Cornerstone Wealth Management LLC now owns 3,612,283 shares of the social networking company’s stock valued at $18,303,000 after buying an additional 3,595,367 shares during the last quarter. BlackRock Inc. lifted its position in shares of Facebook by 2.0% in the first quarter. BlackRock Inc. now owns 149,137,226 shares of the social networking company’s stock valued at $23,830,637,000 after buying an additional 2,966,437 shares during the last quarter. Finally, Suvretta Capital Management LLC acquired a new stake in shares of Facebook in the first quarter valued at approximately $430,727,000. 60.30% of the stock is owned by hedge funds and other institutional investors.
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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