Facebook, Inc. (FB) Receives “Buy” Rating from Piper Jaffray Companies
Piper Jaffray Companies reaffirmed their buy rating on shares of Facebook, Inc. (NASDAQ:FB) in a research report report published on Friday. The firm currently has a $200.00 target price on the social networking company’s stock.
Several other research analysts also recently commented on FB. Credit Suisse Group reaffirmed an outperform rating and issued a $180.00 price target (up previously from $175.00) on shares of Facebook in a research note on Monday, July 10th. Royal Bank Of Canada reaffirmed a buy rating and issued a $185.00 price target on shares of Facebook in a research note on Tuesday, July 11th. Barclays PLC reaffirmed an overweight rating and issued a $168.00 price target (up previously from $160.00) on shares of Facebook in a research note on Wednesday, July 12th. Vetr downgraded shares of Facebook from a buy rating to a hold rating and set a $161.83 price target on the stock. in a research note on Wednesday, July 12th. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $170.00 price target on shares of Facebook in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-two have issued a buy rating and two have given a strong buy rating to the stock. Facebook presently has a consensus rating of Buy and an average price target of $197.71.
Facebook (NASDAQ:FB) traded down $0.80 during trading on Friday, reaching $179.37. 4,610,483 shares of the company were exchanged, compared to its average volume of 16,530,000. The stock has a market capitalization of $521,850.00, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 1.20 and a beta of 0.67. Facebook has a 52 week low of $113.55 and a 52 week high of $182.90.
Facebook (NASDAQ:FB) last released its quarterly earnings results on Wednesday, November 1st. The social networking company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.31. The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $9.84 billion. Facebook had a net margin of 41.69% and a return on equity of 23.64%. Facebook’s revenue was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. analysts anticipate that Facebook will post 5.75 EPS for the current fiscal year.
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In related news, VP Colin Stretch sold 750 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $171.15, for a total value of $128,362.50. Following the sale, the vice president now directly owns 90,087 shares in the company, valued at approximately $15,418,390.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David B. Fischer sold 50,533 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $169.95, for a total transaction of $8,588,083.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,252,044 shares of company stock worth $1,431,936,509. Corporate insiders own 19.08% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Mutual of America Capital Management LLC increased its stake in shares of Facebook by 2.4% during the first quarter. Mutual of America Capital Management LLC now owns 284,167 shares of the social networking company’s stock worth $40,366,000 after buying an additional 6,740 shares during the period. Palisade Capital Management LLC NJ boosted its holdings in Facebook by 2.4% in the second quarter. Palisade Capital Management LLC NJ now owns 25,857 shares of the social networking company’s stock valued at $3,904,000 after purchasing an additional 602 shares in the last quarter. ING Groep NV boosted its holdings in Facebook by 6.9% in the second quarter. ING Groep NV now owns 589,751 shares of the social networking company’s stock valued at $89,041,000 after purchasing an additional 37,822 shares in the last quarter. Grand Jean Capital Management Inc. boosted its holdings in Facebook by 14.3% in the first quarter. Grand Jean Capital Management Inc. now owns 127,250 shares of the social networking company’s stock valued at $18,076,000 after purchasing an additional 15,910 shares in the last quarter. Finally, Segment Wealth Management LLC boosted its holdings in Facebook by 157.5% in the first quarter. Segment Wealth Management LLC now owns 7,333 shares of the social networking company’s stock valued at $1,042,000 after purchasing an additional 4,485 shares in the last quarter. Institutional investors own 57.27% of the company’s stock.
Facebook Company Profile
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.
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