Facebook, Inc. (NASDAQ:FB) – Equities research analysts at Oppenheimer boosted their FY2018 earnings per share (EPS) estimates for Facebook in a research note issued to investors on Wednesday, October 31st. Oppenheimer analyst J. Helfstein now anticipates that the social networking company will earn $7.34 per share for the year, up from their previous forecast of $7.21. Oppenheimer currently has a “Outperform” rating and a $185.00 target price on the stock. Oppenheimer also issued estimates for Facebook’s FY2019 earnings at $7.00 EPS and FY2020 earnings at $8.33 EPS.
Facebook (NASDAQ:FB) last released its earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.30. The company had revenue of $13.73 billion for the quarter, compared to analysts’ expectations of $13.82 billion. Facebook had a return on equity of 28.18% and a net margin of 37.57%. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS.
Several other brokerages have also weighed in on FB. Citigroup lowered Facebook to a “buy” rating and decreased their price objective for the stock from $220.00 to $210.00 in a report on Thursday, July 26th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Facebook from $185.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, October 12th. ValuEngine raised Facebook from a “sell” rating to a “hold” rating in a report on Friday. Credit Suisse Group set a $265.00 price objective on Facebook and gave the stock a “buy” rating in a report on Monday, July 16th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $225.00 target price on shares of Facebook in a report on Monday, July 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $194.54.
NASDAQ FB opened at $150.35 on Friday. Facebook has a one year low of $139.03 and a one year high of $218.62. The firm has a market cap of $424.77 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 0.93 and a beta of 0.42.
A number of large investors have recently added to or reduced their stakes in FB. Mn Services Vermogensbeheer B.V. increased its stake in shares of Facebook by 1.2% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 384,211 shares of the social networking company’s stock valued at $63,187,000 after buying an additional 4,400 shares during the period. PDS Planning Inc increased its stake in shares of Facebook by 168.4% during the third quarter. PDS Planning Inc now owns 3,425 shares of the social networking company’s stock valued at $563,000 after buying an additional 2,149 shares during the period. Bank of The West increased its stake in shares of Facebook by 4.4% during the third quarter. Bank of The West now owns 90,789 shares of the social networking company’s stock valued at $14,932,000 after buying an additional 3,863 shares during the period. Canandaigua National Bank & Trust Co. increased its stake in shares of Facebook by 4.6% during the third quarter. Canandaigua National Bank & Trust Co. now owns 21,581 shares of the social networking company’s stock valued at $3,549,000 after buying an additional 954 shares during the period. Finally, Chicago Capital LLC increased its stake in shares of Facebook by 11.3% during the third quarter. Chicago Capital LLC now owns 130,574 shares of the social networking company’s stock valued at $21,474,000 after buying an additional 13,302 shares during the period. Institutional investors own 60.30% of the company’s stock.
In related news, VP David B. Fischer sold 2,648 shares of the business’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $148.39, for a total value of $392,936.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 86,365 shares of the company’s stock, valued at approximately $15,975,797.70. The disclosure for this sale can be found here. Insiders sold a total of 3,416,282 shares of company stock valued at $603,782,983 in the last 90 days. 17.23% of the stock is currently owned by corporate insiders.
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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