Facebook (NASDAQ:FB) had its price objective hoisted by investment analysts at Bank of America from $265.00 to $290.00 in a report issued on Friday, Stock Target Advisor reports. The firm currently has a “buy” rating on the social networking company’s stock. Bank of America‘s target price would suggest a potential upside of 14.32% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. BofA Securities raised their target price on Facebook from $265.00 to $290.00 and gave the company a “buy” rating in a research report on Friday. JMP Securities raised their target price on Facebook from $250.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday. Argus raised their target price on Facebook from $220.00 to $240.00 in a research report on Monday, May 4th. Guggenheim raised their target price on Facebook from $235.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Needham & Company LLC started coverage on Facebook in a research report on Thursday, July 2nd. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $273.37.
Shares of Facebook stock opened at $253.67 on Friday. The firm has a 50-day simple moving average of $235.27 and a two-hundred day simple moving average of $207.59. The company has a market cap of $722.73 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 1.81 and a beta of 1.19. Facebook has a fifty-two week low of $137.10 and a fifty-two week high of $255.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.60 and a current ratio of 4.60.
Facebook (NASDAQ:FB) last posted its earnings results on Thursday, July 30th. The social networking company reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.36. Facebook had a return on equity of 23.49% and a net margin of 31.29%. The firm had revenue of $18.69 billion for the quarter, compared to analysts’ expectations of $17.29 billion. Equities research analysts forecast that Facebook will post 7.4 EPS for the current year.
In related news, CRO David B. Fischer sold 22,000 shares of Facebook stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $205.29, for a total value of $4,516,380.00. Following the completion of the sale, the executive now owns 57,503 shares in the company, valued at approximately $11,804,790.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Susan J.S. Taylor sold 1,195 shares of Facebook stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $223.39, for a total transaction of $266,951.05. Following the completion of the sale, the chief accounting officer now owns 3,147 shares of the company’s stock, valued at approximately $703,008.33. The disclosure for this sale can be found here. Insiders have sold a total of 68,591 shares of company stock valued at $14,894,825 in the last 90 days. Insiders own 14.14% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FB. Watson Rebecca acquired a new position in shares of Facebook in the second quarter worth $25,000. JJJ Advisors Inc. grew its stake in shares of Facebook by 262.5% in the second quarter. JJJ Advisors Inc. now owns 145 shares of the social networking company’s stock worth $33,000 after acquiring an additional 105 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of Facebook in the first quarter worth $41,000. Elmwood Wealth Management Inc. acquired a new position in shares of Facebook in the first quarter worth $46,000. Finally, NuWave Investment Management LLC grew its stake in shares of Facebook by 1,019.2% in the first quarter. NuWave Investment Management LLC now owns 291 shares of the social networking company’s stock worth $49,000 after acquiring an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 65.12% 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. The company's products include Facebook that enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, a community for sharing photos, videos, and messages; Messenger, a messaging application for people to connect with friends, family, groups, and businesses across platforms and devices; and WhatsApp, a messaging application for use by people and businesses to communicate in a private way.
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