J P Morgan Chase & Co Increases Facebook, Inc. (FB) Price Target to $210.00
Facebook, Inc. (NASDAQ:FB) had its price objective raised by J P Morgan Chase & Co from $172.60 to $210.00 in a report issued on Thursday morning. They currently have an overweight rating on the social networking company’s stock. The analysts noted that the move was a valuation call.
Other analysts also recently issued research reports about the company. UBS AG reiterated a buy rating and issued a $165.00 price objective on shares of Facebook in a research report on Wednesday, April 19th. Barclays PLC reiterated a neutral rating on shares of Facebook in a research report on Friday, April 14th. Robert W. Baird reiterated an outperform rating and issued a $163.00 price objective on shares of Facebook in a research report on Thursday, May 4th. Vetr raised Facebook from a hold rating to a buy rating and set a $154.73 target price for the company in a report on Wednesday, May 17th. Finally, BidaskClub raised Facebook from a buy rating to a strong-buy rating in a report on Thursday, July 13th. Two 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 stock presently has a consensus rating of Buy and an average price target of $180.91.
Shares of Facebook (FB) traded down 1.61% during midday trading on Thursday, hitting $169.68. The stock had a trading volume of 11,709,547 shares. The firm has a 50-day moving average of $156.22 and a 200 day moving average of $144.53. The firm has a market cap of $492.78 billion, a PE ratio of 37.98 and a beta of 0.67. Facebook has a 12-month low of $113.55 and a 12-month high of $175.49.
Facebook (NASDAQ:FB) last announced its quarterly earnings data on Wednesday, July 26th. The social networking company reported $1.32 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.19. Facebook had a return on equity of 21.73% and a net margin of 38.84%. The company had revenue of $9.32 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the company earned $0.97 EPS. The company’s quarterly revenue was up 44.8% on a year-over-year basis. On average, analysts expect that Facebook will post $5.23 earnings per share for the current year.
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In other Facebook news, insider Christopher K. Cox sold 16,000 shares of Facebook stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $150.05, for a total transaction of $2,400,800.00. Following the transaction, the insider now directly owns 165,431 shares in the company, valued at $24,822,921.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Colin Stretch sold 750 shares of Facebook stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $165.29, for a total value of $123,967.50. Following the transaction, the vice president now owns 83,906 shares in the company, valued at $13,868,822.74. The disclosure for this sale can be found here. Insiders sold a total of 10,160,716 shares of company stock worth $1,602,152,681 over the last 90 days. 19.08% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Selkirk Management LLC acquired a new position in Facebook during the fourth quarter valued at $3,106,000. Envestnet Asset Management Inc. raised its position in Facebook by 1.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 240,103 shares of the social networking company’s stock valued at $27,619,000 after buying an additional 2,350 shares in the last quarter. Tyers Asset Management LLC acquired a new position in Facebook during the fourth quarter valued at $34,083,000. Asturias Capital LLC acquired a new position in Facebook during the fourth quarter valued at $10,726,000. Finally, Arrowpoint Asset Management LLC raised its position in Facebook by 5.5% in the fourth quarter. Arrowpoint Asset Management LLC now owns 15,400 shares of the social networking company’s stock valued at $1,772,000 after buying an additional 808 shares in the last quarter. Hedge funds and other 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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