Facebook, Inc. (FB) Receives Outperform Rating from Macquarie
Macquarie reissued their outperform rating on shares of Facebook, Inc. (NASDAQ:FB) in a report published on Thursday morning. The firm currently has a $190.00 price target on the social networking company’s stock, up from their previous price target of $175.00.
A number of other equities analysts also recently weighed in on FB. UBS AG reissued a buy rating and issued a $165.00 price target on shares of Facebook in a report on Wednesday, April 19th. Jefferies Group LLC reissued a buy rating and issued a $175.00 price target on shares of Facebook in a report on Wednesday, April 19th. Aegis boosted their price target on shares of Facebook from $155.00 to $160.00 and gave the stock a buy rating in a report on Monday, April 17th. Instinet reissued a buy rating and issued a $165.00 price target on shares of Facebook in a report on Saturday, April 22nd. Finally, Loop Capital restated a buy rating and issued a $175.00 price objective on shares of Facebook in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, forty-two have given a buy rating and four have issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $180.91.
Facebook (FB) traded down 1.86% on Thursday, hitting $169.25. 25,195,570 shares of the stock traded hands. Facebook has a 1-year low of $113.55 and a 1-year high of $175.49. The stock has a 50-day moving average price of $156.22 and a 200 day moving average price of $144.53. The company has a market cap of $491.54 billion, a price-to-earnings ratio of 37.88 and a beta of 0.67.
Facebook (NASDAQ:FB) last posted its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. The firm had revenue of $9.32 billion for the quarter, compared to the consensus estimate of $9.19 billion. Facebook had a net margin of 38.84% and a return on equity of 21.73%. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. On average, analysts anticipate that Facebook will post $5.23 EPS for the current fiscal year.
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In related news, insider Christopher K. Cox sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $150.05, for a total value of $2,400,800.00. Following the sale, the insider now owns 165,431 shares of the company’s stock, valued at approximately $24,822,921.55. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Colin Stretch sold 750 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $153.17, for a total value of $114,877.50. Following the completion of the sale, the vice president now directly owns 79,830 shares in the company, valued at approximately $12,227,561.10. The disclosure for this sale can be found here. Insiders have sold a total of 10,160,716 shares of company stock worth $1,602,152,681 in the last three months. Corporate insiders own 19.08% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Facebook by 1.7% in the first quarter. State Street Corp now owns 93,365,713 shares of the social networking company’s stock worth $13,262,607,000 after buying an additional 1,536,158 shares during the last quarter. Viking Global Investors LP increased its stake in Facebook by 1.2% in the fourth quarter. Viking Global Investors LP now owns 18,978,163 shares of the social networking company’s stock worth $2,183,438,000 after buying an additional 228,753 shares during the last quarter. Norges Bank purchased a new stake in Facebook during the fourth quarter worth approximately $2,046,500,000. Loomis Sayles & Co. L P increased its stake in Facebook by 4.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 12,789,217 shares of the social networking company’s stock worth $1,471,399,000 after buying an additional 493,666 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Facebook by 5.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,126,937 shares of the social networking company’s stock worth $1,012,382,000 after buying an additional 349,947 shares during the last quarter. Institutional investors own 57.62% 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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