Guggenheim Initiates Coverage on Facebook (FB)

Analysts at Guggenheim started coverage on shares of Facebook (NASDAQ:FB) in a research report issued on Thursday, Marketbeat.com reports. The firm set a “neutral” rating and a $150.00 price target on the social networking company’s stock. Guggenheim’s price target indicates a potential upside of 9.15% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Raymond James reissued a “buy” rating and issued a $210.00 price objective on shares of Facebook in a research note on Friday, October 19th. Royal Bank of Canada reissued a “buy” rating and issued a $195.00 price objective on shares of Facebook in a research note on Monday, September 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $202.00 price objective on shares of Facebook in a research note on Thursday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of Facebook from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, September 18th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $205.00 price objective on shares of Facebook in a research note on Monday, October 22nd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $191.80.

Shares of Facebook stock opened at $137.42 on Thursday. Facebook has a 1-year low of $126.85 and a 1-year high of $218.62. The company has a market cap of $405.63 billion, a PE ratio of 22.31, a PEG ratio of 0.88 and a beta of 0.57.

Facebook (NASDAQ:FB) last issued its quarterly earnings results on Tuesday, October 30th. The social networking company reported $1.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.46 by $0.30. Facebook had a net margin of 37.57% and a return on equity of 27.89%. The company had revenue of $13.73 billion during the quarter, compared to the consensus estimate of $13.82 billion. During the same quarter in the prior year, the firm posted $1.59 EPS. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. On average, research analysts forecast that Facebook will post 7.37 earnings per share for the current year.

In other news, insider Michael Todd Schroepfer sold 38,085 shares of the stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $166.11, for a total transaction of $6,326,299.35. Following the completion of the sale, the insider now directly owns 588,694 shares in the company, valued at $97,787,960.34. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Sheryl Sandberg sold 55,000 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $166.07, for a total transaction of $9,133,850.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 518,103 shares of company stock valued at $79,159,534. Corporate insiders own 17.23% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Baker Ellis Asset Management LLC bought a new position in Facebook during the third quarter worth $119,000. Cribstone Capital Management LLC boosted its stake in Facebook by 186.2% during the second quarter. Cribstone Capital Management LLC now owns 624 shares of the social networking company’s stock worth $121,000 after acquiring an additional 406 shares in the last quarter. IMA Wealth Inc. bought a new position in Facebook during the second quarter worth $122,000. Trust Department MB Financial Bank N A bought a new position in Facebook during the second quarter worth $134,000. Finally, Aviance Capital Management LLC bought a new position in Facebook during the second quarter worth $151,000. Institutional investors own 58.42% of the company’s stock.

About Facebook

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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