Macquarie reissued their buy rating on shares of Facebook (NASDAQ:FB) in a research note published on Monday morning. They currently have a $190.00 target price on the social networking company’s stock.
Other equities research analysts also recently issued research reports about the company. Raymond James downgraded Facebook from a strong-buy rating to an outperform rating and set a $210.00 price target for the company. in a report on Thursday, July 26th. Royal Bank of Canada reiterated a buy rating and set a $195.00 price target on shares of Facebook in a report on Monday, September 3rd. Stifel Nicolaus reiterated a buy rating and set a $202.00 price target on shares of Facebook in a report on Thursday, August 23rd. JPMorgan Chase & Co. upped their price target on Facebook from $195.00 to $205.00 and gave the stock an overweight rating in a report on Tuesday, September 18th. Finally, MKM Partners decreased their price target on Facebook to $230.00 and set a buy rating for the company in a report on Thursday, August 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating, forty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $195.56.
Shares of NASDAQ FB traded down $1.79 during midday trading on Monday, hitting $149.96. 14,706,910 shares of the stock traded hands, compared to its average volume of 24,995,324. The company has a market cap of $424.77 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 0.93 and a beta of 0.42. Facebook has a one year low of $139.03 and a one year high of $218.62.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. Facebook had a return on equity of 28.18% and a net margin of 37.57%. The company’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 earnings per share. On average, equities analysts expect that Facebook will post 7.15 EPS for the current year.
In other news, CEO Mark Zuckerberg sold 218,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $183.07, for a total transaction of $39,909,260.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David B. Fischer sold 2,648 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $148.39, for a total value of $392,936.72. The disclosure for this sale can be found here. Insiders have sold a total of 3,416,282 shares of company stock worth $603,782,983 in the last ninety days. Insiders own 17.23% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Facebook by 1.8% during the 2nd quarter. BlackRock Inc. now owns 151,855,997 shares of the social networking company’s stock worth $29,508,656,000 after purchasing an additional 2,718,771 shares in the last quarter. FMR LLC lifted its holdings in Facebook by 2.1% during the 2nd quarter. FMR LLC now owns 122,122,806 shares of the social networking company’s stock worth $23,730,904,000 after purchasing an additional 2,488,007 shares in the last quarter. Northern Trust Corp lifted its holdings in Facebook by 0.8% during the 2nd quarter. Northern Trust Corp now owns 26,909,979 shares of the social networking company’s stock worth $5,229,147,000 after purchasing an additional 224,531 shares in the last quarter. Morgan Stanley lifted its holdings in Facebook by 10.1% during the 2nd quarter. Morgan Stanley now owns 24,718,629 shares of the social networking company’s stock worth $4,803,323,000 after purchasing an additional 2,265,577 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Facebook by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 22,102,171 shares of the social networking company’s stock worth $4,294,895,000 after purchasing an additional 184,595 shares in the last quarter. 60.30% of the stock is currently owned by institutional investors and hedge funds.
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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