Stifel Nicolaus lowered shares of Facebook (NASDAQ:FB) from a buy rating to a hold rating in a report released on Wednesday, Marketbeat reports. They currently have $150.00 price objective on the social networking company’s stock.
“We are lowering our rating on Facebook shares to and maintaining our $150 target price. Facebook’s management team has created too many adversaries – politicians/ regulators, tech leaders, consumers, and employees – to not experience long-term negative ramifications on its business. The political and regulatory blowback seems like it may lead to restrictions on how Facebook operates, over time. Many leaders of Silicon Valley, including respected voices Cook, have turned against Facebook due to differences in corporate values. Most importantly, consumers and some employees seem to have grown disenchanted with the company.”,” the firm’s analyst wrote.
FB has been the topic of a number of other research reports. Wells Fargo & Co set a $220.00 price objective on shares of Facebook and gave the stock a buy rating in a research report on Monday, October 29th. Credit Suisse Group reissued a buy rating and issued a $210.00 price objective on shares of Facebook in a research report on Wednesday, October 31st. Bank of America cut their price objective on shares of Facebook from $205.00 to $190.00 and set a buy rating on the stock in a research report on Wednesday, October 24th. Nomura cut their price objective on shares of Facebook from $183.00 to $161.00 and set a neutral rating on the stock in a research report on Wednesday, October 31st. Finally, Cleveland Research reissued a buy rating on shares of Facebook in a research report on Thursday, September 13th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $191.80.
Shares of FB stock traded down $1.61 during trading on Wednesday, reaching $136.32. The company’s stock had a trading volume of 7,295,380 shares, compared to its average volume of 24,514,308. The firm has a market cap of $400.69 billion, a PE ratio of 22.13, a P/E/G ratio of 0.87 and a beta of 0.57. Facebook has a one year low of $126.85 and a one year high of $218.62.
Facebook (NASDAQ:FB) last announced its quarterly earnings data 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 business had revenue of $13.73 billion for the quarter, compared to analyst estimates of $13.82 billion. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share. As a group, equities analysts predict that Facebook will post 7.36 EPS for the current year.
In related news, CFO David M. Wehner sold 4,761 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $141.10, for a total value of $671,777.10. Following the transaction, the chief financial officer now directly owns 76,830 shares in the company, valued at $10,840,713. 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 company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $163.25, for a total transaction of $122,437.50. Following the completion of the transaction, the vice president now owns 96,144 shares in the company, valued at $15,695,508. The disclosure for this sale can be found here. Insiders sold 518,103 shares of company stock worth $79,159,534 over the last three months. Insiders own 17.23% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in FB. Baker Ellis Asset Management LLC acquired a new position in shares of Facebook in the third quarter valued at about $119,000. Cribstone Capital Management LLC grew its stake in shares of Facebook by 186.2% in the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock valued at $121,000 after acquiring an additional 406 shares in the last quarter. IMA Wealth Inc. acquired a new position in shares of Facebook in the second quarter valued at about $122,000. Trust Department MB Financial Bank N A acquired a new stake in Facebook during the second quarter worth about $134,000. Finally, Aviance Capital Management LLC acquired a new stake in Facebook during the second quarter worth about $151,000. Institutional investors and hedge funds own 58.42% of the company’s stock.
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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