Facebook (NASDAQ:FB) Stock Rating Reaffirmed by SunTrust Banks

Facebook (NASDAQ:FB)‘s stock had its “buy” rating reissued by SunTrust Banks in a research report issued to clients and investors on Friday, Briefing.com Automated Import reports. They presently have a $285.00 price objective on the social networking company’s stock, up from their previous price objective of $245.00. SunTrust Banks’ price objective suggests a potential upside of 12.35% from the company’s previous close.

FB has been the subject of several other research reports. Goldman Sachs Group set a $265.00 price objective on shares of Facebook and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Deutsche Bank upped their price objective on shares of Facebook from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Zacks Investment Research raised shares of Facebook from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a research report on Friday, June 12th. MKM Partners boosted their target price on Facebook from $240.00 to $290.00 in a research note on Wednesday, July 15th. Finally, Citigroup boosted their target price on Facebook from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $273.37.

Shares of Facebook stock opened at $253.67 on Friday. The firm has a 50-day moving average of $235.27 and a 200-day moving average of $207.59. The stock has a market cap of $722.73 billion, a PE ratio of 30.97, a PEG ratio of 1.81 and a beta of 1.19. Facebook has a 52-week low of $137.10 and a 52-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 announced its earnings results on Thursday, July 30th. The social networking company reported $1.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.36. The company had revenue of $18.69 billion during the quarter, compared to analysts’ expectations of $17.29 billion. Facebook had a net margin of 31.29% and a return on equity of 23.49%. Equities research analysts predict that Facebook will post 7.4 earnings per share for the current fiscal year.

In related news, VP Jennifer Newstead sold 194 shares of Facebook stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $207.43, for a total value of $40,241.42. Following the completion of the sale, the vice president now owns 406 shares of the company’s stock, valued at approximately $84,216.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David M. Wehner sold 8,000 shares of Facebook stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $209.90, for a total transaction of $1,679,200.00. Following the completion of the sale, the chief financial officer now directly owns 24,484 shares of the company’s stock, valued at approximately $5,139,191.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,591 shares of company stock valued at $14,894,825. Insiders own 14.14% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp boosted its holdings in Facebook by 1.2% during the 1st quarter. State Street Corp now owns 95,449,004 shares of the social networking company’s stock worth $15,920,894,000 after acquiring an additional 1,132,053 shares during the last quarter. Capital International Investors raised its stake in shares of Facebook by 14.1% during the 1st quarter. Capital International Investors now owns 51,583,155 shares of the social networking company’s stock worth $8,604,068,000 after purchasing an additional 6,394,036 shares during the period. Geode Capital Management LLC raised its stake in shares of Facebook by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 34,812,327 shares of the social networking company’s stock worth $5,794,733,000 after purchasing an additional 723,655 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Facebook by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 21,748,552 shares of the social networking company’s stock worth $3,627,657,000 after purchasing an additional 1,251,202 shares during the period. Finally, Alliancebernstein L.P. raised its stake in shares of Facebook by 6.9% during the 1st quarter. Alliancebernstein L.P. now owns 18,712,332 shares of the social networking company’s stock worth $3,121,217,000 after purchasing an additional 1,205,780 shares during the period. 65.12% of the stock is currently owned by hedge funds and other institutional investors.

About Facebook

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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