Facebook (FB) Receives Buy Rating from Credit Suisse Group

Facebook (NASDAQ:FB)‘s stock had its “buy” rating reissued by Credit Suisse Group in a research report issued on Wednesday. They currently have a $210.00 price objective on the social networking company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 39.93% from the company’s current price.

A number of other research firms have also commented on FB. Wells Fargo & Co reissued a “buy” rating and issued a $220.00 price objective (down previously from $250.00) on shares of Facebook in a research note on Thursday, July 26th. Wedbush restated a “buy” rating and set a $250.00 target price on shares of Facebook in a research report on Thursday, July 26th. Monness Crespi & Hardt dropped their target price on Facebook from $225.00 to $205.00 and set a “buy” rating for the company in a research report on Thursday, July 26th. Citigroup downgraded Facebook to a “buy” rating and dropped their target price for the stock from $220.00 to $210.00 in a research report on Thursday, July 26th. They noted that the move was a valuation call. Finally, KeyCorp restated a “buy” rating and set a $215.00 target price (down previously from $245.00) on shares of Facebook in a research report on Thursday, July 26th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, forty-one have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $195.56.

FB stock traded down $1.68 during trading on Wednesday, hitting $150.07. The company had a trading volume of 13,818,467 shares, compared to its average volume of 24,995,324. The firm has a market cap of $424.77 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 0.93 and a beta of 0.42. Facebook has a fifty-two week low of $139.03 and a fifty-two week high of $218.62.

Facebook (NASDAQ:FB) last posted its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.30. The company had revenue of $13.73 billion for 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 business’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.59 earnings per share. As a group, research analysts anticipate that Facebook will post 7.15 EPS for the current year.

In other Facebook news, CEO Mark Zuckerberg sold 602,000 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $176.67, for a total value of $106,355,340.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Colin Stretch sold 750 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $184.98, for a total value of $138,735.00. Following the completion of the sale, the vice president now owns 86,365 shares of the company’s stock, valued at $15,975,797.70. The disclosure for this sale can be found here. Insiders sold 3,416,282 shares of company stock valued at $603,782,983 in the last quarter. 17.23% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in FB. Summit Trail Advisors LLC boosted its position in shares of Facebook by 4,170.3% during the first quarter. Summit Trail Advisors LLC now owns 9,070,939 shares of the social networking company’s stock worth $9,071,000 after buying an additional 8,858,520 shares during the period. Fundsmith Equity Fund L.P. acquired a new position in Facebook during the second quarter valued at approximately $1,072,219,000. Cornerstone Wealth Management LLC boosted its position in Facebook by 21,254.2% during 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 purchasing an additional 3,595,367 shares during the last quarter. BlackRock Inc. boosted its position in Facebook by 2.0% during 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 purchasing an additional 2,966,437 shares during the last quarter. Finally, Suvretta Capital Management LLC acquired a new position in Facebook during the first quarter valued at approximately $430,727,000. Institutional investors own 60.30% of the company’s stock.

Facebook Company Profile

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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Analyst Recommendations for Facebook (NASDAQ:FB)

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