Facebook Inc. (NASDAQ:FB)‘s stock had its “buy” rating restated by Needham & Company LLC in a note issued to investors on Wednesday. They currently have a $150.00 price target on the social networking company’s stock. Needham & Company LLC’s price target suggests a potential upside of 16.39% from the company’s current price.

A number of other brokerages have also commented on FB. JPMorgan Chase & Co. reissued an “overweight” rating and set a $170.00 price objective on shares of Facebook in a report on Friday, September 9th. Loop Capital assumed coverage on shares of Facebook in a report on Thursday, September 22nd. They set a “buy” rating and a $165.00 price objective on the stock. They noted that the move was a valuation call. Credit Agricole SA reissued a “buy” rating on shares of Facebook in a report on Friday, September 23rd. Robert W. Baird reissued an “outperform” rating and set a $155.00 price objective on shares of Facebook in a report on Tuesday, September 6th. Finally, Vetr lowered shares of Facebook from a “buy” rating to a “hold” rating and set a $134.63 price objective on the stock. in a report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-five have given a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $149.99.

Analyst Recommendations for Facebook (NASDAQ:FB)

Facebook (NASDAQ:FB) traded up 0.18% during midday trading on Wednesday, reaching $129.11. 5,884,084 shares of the company traded hands. The firm has a 50 day moving average of $127.89 and a 200-day moving average of $120.00. The stock has a market capitalization of $370.76 billion, a price-to-earnings ratio of 61.72 and a beta of 0.77. Facebook has a 12 month low of $89.37 and a 12 month high of $131.98.

Facebook (NASDAQ:FB) last posted its earnings results on Wednesday, July 27th. The social networking company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.15. Facebook had a net margin of 27.07% and a return on equity of 14.38%. The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 59.2% compared to the same quarter last year. Analysts forecast that Facebook will post $3.94 EPS for the current fiscal year.

In other news, CTO Michael Todd Schroepfer sold 51,283 shares of Facebook stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $117.30, for a total value of $6,015,495.90. Following the sale, the chief technology officer now directly owns 579,862 shares in the company, valued at approximately $68,017,812.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David B. Fischer sold 35,000 shares of Facebook stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $130.32, for a total value of $4,561,200.00. Following the completion of the sale, the vice president now owns 204,686 shares in the company, valued at $26,674,679.52. The disclosure for this sale can be found here. 19.08% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Stelac Advisory Services LLC purchased a new stake in Facebook during the first quarter valued at $106,000. Bartlett & Co. LLC raised its stake in Facebook by 8.9% in the second quarter. Bartlett & Co. LLC now owns 1,116 shares of the social networking company’s stock valued at $128,000 after buying an additional 91 shares in the last quarter. Kings Point Capital Management raised its stake in Facebook by 20.1% in the first quarter. Kings Point Capital Management now owns 1,193 shares of the social networking company’s stock valued at $136,000 after buying an additional 200 shares in the last quarter. Balentine LLC raised its stake in Facebook by 512.6% in the second quarter. Balentine LLC now owns 1,213 shares of the social networking company’s stock valued at $139,000 after buying an additional 1,015 shares in the last quarter. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in Facebook by 1.5% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,230 shares of the social networking company’s stock valued at $140,000 after buying an additional 18 shares in the last quarter. Institutional investors own 56.61% of the company’s stock.

Facebook Company Profile

Facebook, Inc builds products that enable people to connect and share through mobile devices and personal computers. The Company enables people to share their opinions, ideas, photos and videos, and other activities. Its products include Facebook, Instagram, Messenger, WhatsApp and Oculus. Facebook is a mobile application and Website that enables people to connect, share, discover and communicate with each other on mobile devices and personal computers.

5 Day Chart for NASDAQ:FB

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