Facebook (FB) Lowered to “Buy” at Vetr
Vetr downgraded shares of Facebook (NASDAQ:FB) from a strong-buy rating to a buy rating in a report issued on Thursday. The firm currently has $199.43 price target on the social networking company’s stock.
A number of other research analysts also recently issued reports on FB. Cowen restated an average rating and set a $200.00 price target (up previously from $195.00) on shares of Facebook in a research note on Wednesday, September 27th. Robert W. Baird reaffirmed a buy rating and set a $185.00 price objective on shares of Facebook in a research report on Friday, September 1st. Wells Fargo & Company set a $215.00 price objective on Facebook and gave the stock a buy rating in a research report on Friday, October 6th. Needham & Company LLC reaffirmed a buy rating and set a $185.00 price objective on shares of Facebook in a research report on Thursday, October 5th. Finally, KeyCorp reaffirmed a buy rating and set a $200.00 price objective on shares of Facebook in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, forty-three have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $200.75.
Facebook (NASDAQ FB) traded up $0.18 on Thursday, hitting $180.36. The stock had a trading volume of 1,956,504 shares, compared to its average volume of 16,980,820. Facebook has a fifty-two week low of $114.77 and a fifty-two week high of $184.25. The stock has a market cap of $523,568.47, a P/E ratio of 34.72, a P/E/G ratio of 1.15 and a beta of 0.69.
Facebook (NASDAQ:FB) last released its quarterly earnings data on Wednesday, November 1st. The social networking company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.31. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. During the same quarter in the prior year, the business posted $1.09 EPS. The business’s revenue for the quarter was up 47.3% on a year-over-year basis. research analysts expect that Facebook will post 5.86 earnings per share for the current fiscal year.
In related news, CEO Mark Zuckerberg sold 247,452 shares of Facebook stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $171.75, for a total value of $42,499,881.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $178.83, for a total value of $134,122.50. Following the completion of the transaction, the vice president now owns 83,296 shares in the company, valued at approximately $14,895,823.68. The disclosure for this sale can be found here. Insiders have sold 5,066,441 shares of company stock valued at $903,750,174 in the last three months. 17.23% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Moisand Fitzgerald Tamayo LLC bought a new stake in Facebook in the third quarter valued at about $111,000. D. Scott Neal Inc. increased its holdings in Facebook by 1,358.0% in the second quarter. D. Scott Neal Inc. now owns 729 shares of the social networking company’s stock valued at $110,000 after buying an additional 679 shares during the last quarter. Farmers & Merchants Investments Inc. increased its holdings in Facebook by 4.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 809 shares of the social networking company’s stock valued at $122,000 after buying an additional 34 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in Facebook in the third quarter valued at about $152,000. Finally, Pacific Center for Financial Services increased its holdings in Facebook by 10.7% in the first quarter. Pacific Center for Financial Services now owns 910 shares of the social networking company’s stock valued at $129,000 after buying an additional 88 shares during the last quarter. Institutional investors own 57.86% of the company’s stock.
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Facebook, Inc is focused on building products that enable people to connect and share through mobile devices, personal computers and other surfaces. The Company’s products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.
To view Vetr’s full report, visit Vetr’s official website.
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