Facebook (FB) Price Target Cut to $220.00

Facebook (NASDAQ:FB) had its target price trimmed by Mizuho from $245.00 to $220.00 in a report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the social networking company’s stock.

Several other equities analysts have also recently commented on the company. Raymond James cut 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 reaffirmed a buy rating and issued a $195.00 price target on shares of Facebook in a report on Monday, September 3rd. Stifel Nicolaus reaffirmed a buy rating and issued 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 company an overweight rating in a report on Tuesday, September 18th. Finally, MKM Partners cut their price target on Facebook to $230.00 and set a buy rating for the company in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $194.54.

Facebook stock opened at $150.35 on Wednesday. The company has a market capitalization of $436.77 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 0.92 and a beta of 0.55. Facebook has a 12 month low of $139.03 and a 12 month high of $218.62.

Facebook (NASDAQ:FB) last posted its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.46 by $0.30. The firm had revenue of $13.73 billion during the quarter, compared to analysts’ expectations of $13.82 billion. Facebook had a return on equity of 27.89% and a net margin of 37.57%. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.59 EPS. Equities research analysts expect that Facebook will post 7.3 earnings per share for the current year.

In related news, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $180.72, for a total transaction of $9,939,600.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 210,000 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $185.45, for a total value of $38,944,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,416,282 shares of company stock worth $603,782,983. 17.23% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FB. Cribstone Capital Management LLC boosted its position in Facebook by 186.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after buying an additional 406 shares during the last quarter. IMA Wealth Inc. acquired a new position in shares of Facebook in the 2nd quarter valued at $122,000. Trust Department MB Financial Bank N A acquired a new position in shares of Facebook in the 2nd quarter valued at $134,000. Aviance Capital Management LLC acquired a new position in shares of Facebook in the 2nd quarter valued at $151,000. Finally, Arlington Partners LLC acquired a new position in shares of Facebook in the 3rd quarter valued at $164,000. Hedge funds and other 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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