Pivotal Research Reaffirms Sell Rating for Facebook, Inc. (FB)
Pivotal Research reissued their sell rating on shares of Facebook, Inc. (NASDAQ:FB) in a research note published on Thursday morning. Pivotal Research currently has a $136.00 price objective on the social networking company’s stock.
“We continue to rate the stock Sell. Facebook reported spectacular 3Q17 earnings featuring revenue growth of +47% (including advertising revenue growth of +43%), operating income margins of 50% and EPS of $1.59. This compared with our forecasts of +42% (with advertising revenue growth of +43%), operating income margins of 43% and EPS of $1.24 and consensus that was similar on revenue expectations, but higher on profitability.”,” the firm’s analyst wrote.
Several other analysts have also weighed in on the company. Jefferies Group LLC upped their price objective on Facebook to $225.00 and gave the company a buy rating in a research report on Thursday. KeyCorp reissued an overweight rating and set a $220.00 price target (up previously from $200.00) on shares of Facebook in a research report on Thursday. Cowen and Company restated an outperform rating and set a $195.00 price objective on shares of Facebook in a research note on Thursday, August 10th. Citigroup Inc. restated a buy rating and set a $200.00 price objective on shares of Facebook in a research note on Wednesday, September 27th. Finally, Robert W. Baird reiterated an outperform rating and issued a $185.00 price target (up from $163.00) on shares of Facebook in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, forty-three have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $196.91.
Facebook (FB) traded up $1.25 on Thursday, hitting $180.17. The stock had a trading volume of 13,150,000 shares, compared to its average volume of 17,460,000. Facebook has a 12-month low of $113.55 and a 12-month high of $182.90. The stock has a market cap of $523,250.00, a price-to-earnings ratio of 34.47, a PEG ratio of 1.20 and a beta of 0.67.
Facebook (NASDAQ:FB) last announced its quarterly earnings data 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. Facebook had a return on equity of 23.64% and a net margin of 41.69%. The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $9.84 billion. During the same period in the previous year, the company posted $1.09 EPS. The firm’s revenue was up 47.3% on a year-over-year basis. sell-side analysts anticipate that Facebook will post 5.75 EPS for the current fiscal year.
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In other Facebook news, insider Christopher K. Cox sold 16,000 shares of the business’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $167.02, for a total transaction of $2,672,320.00. Following the completion of the sale, the insider now directly owns 219,332 shares in the company, valued at approximately $36,632,830.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Colin Stretch sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $164.21, for a total value of $123,157.50. Following the transaction, the vice president now owns 92,591 shares of the company’s stock, valued at $15,204,368.11. The disclosure for this sale can be found here. Insiders sold 8,290,683 shares of company stock worth $1,438,581,045 in the last 90 days. Company insiders own 19.08% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. WCM Investment Management CA grew its position in Facebook by 8.3% in the 3rd quarter. WCM Investment Management CA now owns 382,265 shares of the social networking company’s stock valued at $65,317,000 after acquiring an additional 29,352 shares during the last quarter. Sigma Planning Corp boosted its position in Facebook by 1.7% during the third quarter. Sigma Planning Corp now owns 48,988 shares of the social networking company’s stock valued at $8,371,000 after purchasing an additional 820 shares in the last quarter. Capital Management Associates NY bought a new stake in Facebook during the third quarter valued at about $432,000. Bank of Stockton boosted its position in Facebook by 16.9% during the third quarter. Bank of Stockton now owns 4,608 shares of the social networking company’s stock valued at $786,000 after purchasing an additional 665 shares in the last quarter. Finally, Wellington Shields Capital Management LLC raised its stake in Facebook by 9.5% in the third quarter. Wellington Shields Capital Management LLC now owns 38,955 shares of the social networking company’s stock valued at $6,656,000 after buying an additional 3,381 shares during 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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